Nordson Corporation (NASDAQ:NDSN) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden sold 1,800 shares of Nordson Corporation, reducing its stake by 17.0% to 8,800 shares, valued at approximately $1.775 million.
• Institutional investors significantly increased their holdings, with Massachusetts Financial Services Co. MA raising theirs by 156.2% and GAMMA Investing LLC increasing theirs by 19,089.3%.
• Nordson's stock received positive ratings from multiple analysts, with Oppenheimer upgrading it to an "outperform" rating and a target price of $260.00.

Forsta AP Fonden lowered its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the industrial products company's stock after selling 1,800 shares during the period. Forsta AP Fonden's holdings in Nordson were worth $1,775,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 89 shares during the period. Harbour Investments Inc. grew its position in Nordson by 36.7% during the first 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 during the period. Kapitalo Investimentos Ltda purchased a new stake in Nordson during the fourth quarter valued at approximately $62,000. CX Institutional purchased a new position in shares of Nordson during the 1st quarter worth $67,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Nordson in the 4th quarter worth $92,000. Institutional investors own 72.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research started coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Vertical Research assumed coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price on the stock. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird increased 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. Finally, Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a research note on Friday, May 30th. Six equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.86.

Nordson Trading Down 1.7%

Shares of NASDAQ NDSN traded down $3.78 during trading hours on Friday, reaching $213.44. The stock had a trading volume of 319,891 shares, compared to its average volume of 318,501. 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 firm has a market cap of $12.06 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.67 and a beta of 0.89. The business's fifty day moving average price is $216.68 and its two-hundred day moving average price is $206.77. 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 posted its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates 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 revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. Nordson's dividend payout ratio is presently 40.10%.

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.