Edgestream Partners L.P. Takes Position in Nordson Corporation (NASDAQ:NDSN)

Edgestream Partners L.P. purchased a new position in Nordson Corporation (NASDAQ:NDSN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,306 shares of the industrial products company's stock, valued at approximately $11,156,000. Nordson accounts for 0.4% of Edgestream Partners L.P.'s portfolio, making the stock its 24th biggest position. Edgestream Partners L.P. owned 0.10% of Nordson as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after buying an additional 89 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Nordson in the fourth quarter worth $62,000. CX Institutional purchased a new position in shares of Nordson in the first quarter worth $67,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Nordson in the fourth quarter worth $92,000. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Nordson in the fourth quarter worth $98,000. 72.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday. Wolfe Research initiated coverage on shares of Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating for the company. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a research report on Friday, May 30th. Finally, Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.86.

Nordson Trading Down 0.9%

Shares of Nordson stock traded down $1.89 during trading on Wednesday, hitting $213.01. The stock had a trading volume of 384,481 shares, compared to its average volume of 330,873. The stock has a market cap of $12.04 billion, a PE ratio of 27.38, a PEG ratio of 1.68 and a beta of 0.89. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm's fifty day simple moving average is $210.64 and its 200-day simple moving average is $206.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 EPS. As a group, sell-side analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is 40.10%.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.