Edgestream Partners L.P. Takes $11.16 Million Position in Nordson Corporation (NASDAQ:NDSN)

Edgestream Partners L.P. bought a new position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,306 shares of the industrial products company's stock, valued at approximately $11,156,000. Nordson accounts for approximately 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 24th largest holding. Edgestream Partners L.P. owned 0.10% of Nordson as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NDSN. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after acquiring an additional 89 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Nordson in the 4th quarter worth about $62,000. CX Institutional acquired a new stake in shares of Nordson in the 1st quarter worth about $67,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Nordson in the 4th quarter worth about $92,000. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Nordson in the 4th quarter worth about $98,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Price Performance

NDSN traded up $4.46 on Thursday, reaching $217.47. The company had a trading volume of 426,829 shares, compared to its average volume of 331,706. The company has a fifty day moving average of $211.58 and a 200-day moving average of $206.16. The company has a market capitalization of $12.29 billion, a P/E ratio of 27.95, a PEG ratio of 1.64 and a beta of 0.89. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same quarter last year, the firm posted $2.34 EPS. The business's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.43%. Nordson's dividend payout ratio (DPR) is 40.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on NDSN shares. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Wolfe Research started coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Robert W. Baird increased their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. KeyCorp increased their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price for the company in a research report on Friday, May 30th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.86.

Nordson Profile

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.