HB Wealth Management LLC Buys Shares of 42,866 Nordson Corporation (NASDAQ:NDSN)

Key Points

• HB Wealth Management LLC acquired 42,866 shares of Nordson Corporation valued at approximately $8.64 million, representing about 0.08% of the company's stock.
• Nordson's recent earnings report showed an EPS of $2.42, surpassing analyst estimates of $2.36, with revenues rising by 5% year-over-year.
• Analysts have set a consensus target price of $254.86 for Nordson, with ratings ranging from hold to strong buy among various equity research firms.

HB Wealth Management LLC acquired a new stake in Nordson Corporation (NASDAQ:NDSN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 42,866 shares of the industrial products company's stock, valued at approximately $8,647,000. HB Wealth Management LLC owned 0.08% of Nordson as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Nordson in the 4th quarter worth about $142,670,000. Massachusetts Financial Services Co. MA grew its position in shares of Nordson by 156.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after acquiring an additional 621,734 shares during the period. First Trust Advisors LP grew its position in shares of Nordson by 676.5% during 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 grew its position in shares of Nordson by 19,089.3% during the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock valued at $28,606,000 after acquiring an additional 141,070 shares during the period. Finally, FMR LLC grew its position in shares of Nordson by 19.2% during the 4th quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after acquiring an additional 111,538 shares during the period. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Price Performance

Shares of NDSN stock traded down $0.73 during mid-day trading on Wednesday, hitting $219.49. The company had a trading volume of 142,723 shares, compared to its average volume of 376,308. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The stock's 50 day moving average price is $214.31 and its 200-day moving average price is $206.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The company has a market capitalization of $12.40 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.69 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $682.94 million for the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. Equities research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio is presently 40.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NDSN. Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target on the stock. Wolfe Research began coverage on shares of Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a report on Friday, May 30th. Finally, Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Six investment 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.86.

Nordson 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.