Entropy Technologies LP Makes New $550,000 Investment in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Entropy Technologies LP purchased 2,729 shares of Nordson Corporation for approximately $550,000, reflecting increasing interest from institutional investors.
• Analysts have set a new average price target of $254.86 for Nordson, with ratings ranging from "buy" to "hold" among research firms.
• Nordson announced a quarterly dividend of $0.78, representing an annualized yield of 1.4% and a payout ratio of 40.10%.

Entropy Technologies LP purchased a new position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,729 shares of the industrial products company's stock, valued at approximately $550,000.

Several other large investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares in the last quarter. Harbour Investments Inc. grew its stake in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after buying an additional 54 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Nordson in the 4th quarter valued at approximately $62,000. CX Institutional purchased a new position in Nordson in the 1st quarter valued at approximately $67,000. Finally, Covestor Ltd grew its stake in Nordson by 39.4% in the 1st quarter. Covestor Ltd now owns 386 shares of the industrial products company's stock valued at $78,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Price Performance

Shares of NASDAQ NDSN traded down $3.78 during mid-day trading on Friday, reaching $213.44. 319,891 shares of the company were exchanged, compared to its average volume of 318,501. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $12.06 billion, a PE ratio of 27.43, a PEG ratio of 1.67 and a beta of 0.89. The company's 50 day moving average price is $216.68 and its 200 day moving average price is $206.77.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $671.36 million. During the same period in the previous year, the firm posted $2.34 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.5%. Nordson's payout ratio is currently 40.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Vertical Research initiated coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target for the company. Robert W. Baird raised their price target on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. KeyCorp raised their price target on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Wolfe Research initiated coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating 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 stock. According to MarketBeat, Nordson presently has an average rating of "Moderate Buy" and a consensus target price of $254.86.

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.