Exchange Traded Concepts LLC Buys 8,553 Shares of Nordson Co. (NASDAQ:NDSN)

Exchange Traded Concepts LLC increased its stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,108 shares of the industrial products company's stock after acquiring an additional 8,553 shares during the quarter. Exchange Traded Concepts LLC owned about 0.13% of Nordson worth $14,747,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in shares of Nordson during the 4th quarter valued at about $4,553,000. Marshall Wace LLP purchased a new stake in shares of Nordson in the fourth quarter worth about $372,000. Ossiam boosted its stake in Nordson by 60.1% during the fourth quarter. Ossiam now owns 5,011 shares of the industrial products company's stock valued at $1,049,000 after buying an additional 1,881 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Nordson by 27.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,220 shares of the industrial products company's stock valued at $2,557,000 after buying an additional 2,638 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in Nordson by 8.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,193 shares of the industrial products company's stock worth $459,000 after acquiring an additional 167 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Trading Down 1.7%

NDSN traded down $3.67 during trading on Friday, reaching $214.36. The company had a trading volume of 378,297 shares, compared to its average volume of 315,906. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The business has a 50 day simple moving average of $196.43 and a 200-day simple moving average of $208.64. The stock has a market cap of $12.11 billion, a P/E ratio of 27.27, a PEG ratio of 1.65 and a beta of 0.89. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its earnings results 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 16.93% and a return on equity of 19.28%. The business had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business's revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be issued 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 is Wednesday, June 18th. Nordson's payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NDSN. Oppenheimer upgraded 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. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Robert W. Baird lifted their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. BNP Paribas downgraded shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 target price on the stock. in a report on Monday, February 24th. Finally, KeyCorp lowered their price target on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $253.17.

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.