Invesco Ltd. Buys 142,991 Shares of Nordson Corporation (NASDAQ:NDSN)

Invesco Ltd. increased its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,043,703 shares of the industrial products company's stock after buying an additional 142,991 shares during the period. Invesco Ltd. owned 1.83% of Nordson worth $210,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after buying an additional 89 shares during the period. Harbour Investments Inc. lifted its stake in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Nordson in the 4th quarter worth approximately $62,000. CX Institutional purchased a new stake in Nordson in the 1st quarter worth approximately $67,000. Finally, Covestor Ltd lifted its stake in Nordson by 39.4% in the 1st quarter. Covestor Ltd now owns 386 shares of the industrial products company's stock worth $78,000 after purchasing an additional 109 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on NDSN. 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 target price on the stock. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Wolfe Research began coverage on shares of Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. KeyCorp increased their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $254.86.

Nordson Price Performance

Shares of Nordson stock traded down $3.78 on Friday, hitting $213.44. 319,891 shares of the company traded hands, compared to its average volume of 318,501. The firm's 50-day simple moving average is $216.68 and its 200 day simple moving average is $206.77. 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 company has a market cap of $12.06 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.67 and a beta of 0.89. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86.

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

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is presently 40.10%.

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.