Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in Nordson Corporation (NASDAQ:NDSN)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in NDSN. Global X Japan Co. Ltd. raised its stake in Nordson by 32.8% during the 1st quarter. Global X Japan Co. Ltd. now owns 2,776 shares of the industrial products company's stock worth $560,000 after buying an additional 686 shares during the period. Johnson Investment Counsel Inc. raised its stake in Nordson by 7.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 331,047 shares of the industrial products company's stock worth $66,779,000 after buying an additional 23,481 shares during the period. State of Alaska Department of Revenue raised its stake in Nordson by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 15,599 shares of the industrial products company's stock worth $3,145,000 after buying an additional 155 shares during the period. Crown Oak Advisors LLC raised its stake in Nordson by 1.9% during the 1st quarter. Crown Oak Advisors LLC now owns 38,490 shares of the industrial products company's stock worth $7,764,000 after buying an additional 729 shares during the period. Finally, Cornerstone Wealth Management LLC raised its stake in Nordson by 9.9% during the 1st quarter. Cornerstone Wealth Management LLC now owns 17,795 shares of the industrial products company's stock worth $3,590,000 after buying an additional 1,608 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Stock Performance

Shares of NDSN stock traded up $0.21 during trading on Friday, hitting $215.12. The company's stock had a trading volume of 510,824 shares, compared to its average volume of 327,662. The company has a market cap of $12.16 billion, a PE ratio of 27.65, a P/E/G ratio of 1.65 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. The business has a fifty day moving average of $202.82 and a 200-day moving average of $205.54. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86.

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

Nordson Dividend Announcement

The firm also recently announced 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. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson's dividend payout ratio is presently 40.10%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price target on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Wall Street Zen downgraded Nordson from a "buy" rating to a "hold" rating in a research note on Friday. Wolfe Research assumed coverage on Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating on the stock. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a research note on Friday, May 30th. Finally, KeyCorp decreased their price objective on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nordson presently has an average rating of "Moderate Buy" and a consensus 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.