Nordson Corporation (NASDAQ:NDSN) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,447 shares of the industrial products company's stock after selling 1,929 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Nordson were worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Nordson in the 4th quarter worth about $142,670,000. Raymond James Financial Inc. purchased a new position in shares of Nordson during the 4th quarter valued at approximately $74,005,000. First Trust Advisors LP grew its stake in Nordson by 676.5% in the 4th quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after acquiring an additional 214,594 shares during the period. GAMMA Investing LLC increased its holdings in Nordson by 19,089.3% in the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock worth $28,606,000 after acquiring an additional 141,070 shares in the last quarter. Finally, FMR LLC raised its position in Nordson by 19.2% during the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock worth $145,135,000 after acquiring an additional 111,538 shares during the period. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Trading Up 0.1%

Shares of NASDAQ NDSN traded up $0.21 during midday trading on Friday, reaching $215.12. 510,824 shares of the stock were exchanged, compared to its average volume of 328,130. The stock has a market capitalization of $12.16 billion, a P/E ratio of 27.65, a PEG ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The company has a 50 day simple moving average of $202.14 and a 200 day simple moving average of $206.27. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86.

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

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. Nordson's dividend payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NDSN shares. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Wolfe Research initiated coverage on Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. KeyCorp dropped their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a research note on Friday, May 30th. Finally, Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target on the stock. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $252.00.

Nordson Company 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.