Janney Montgomery Scott LLC Acquires 6,032 Shares of Nordson Corporation (NASDAQ:NDSN)

Janney Montgomery Scott LLC grew its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,730 shares of the industrial products company's stock after acquiring an additional 6,032 shares during the period. Janney Montgomery Scott LLC owned about 0.23% of Nordson worth $26,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its holdings in Nordson by 1.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 41,203 shares of the industrial products company's stock valued at $8,683,000 after acquiring an additional 597 shares in the last quarter. Allworth Financial LP lifted its position in shares of Nordson by 1.1% in the 4th quarter. Allworth Financial LP now owns 11,258 shares of the industrial products company's stock worth $2,470,000 after purchasing an additional 117 shares during the period. CIBC Asset Management Inc lifted its position in shares of Nordson by 2.4% in the 4th quarter. CIBC Asset Management Inc now owns 11,477 shares of the industrial products company's stock worth $2,401,000 after purchasing an additional 268 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Nordson by 4.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 66 shares in the last quarter. Finally, Mcdonald Partners LLC increased its position in shares of Nordson by 2.0% during the fourth quarter. Mcdonald Partners LLC now owns 6,425 shares of the industrial products company's stock valued at $1,344,000 after buying an additional 125 shares during the period. 72.11% of the stock is owned by institutional investors.

Nordson Stock Down 0.3%

Shares of NASDAQ NDSN traded down $0.59 during trading on Wednesday, reaching $213.53. The company had a trading volume of 483,031 shares, compared to its average volume of 318,452. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The business's 50-day moving average is $197.98 and its 200 day moving average is $208.03. The stock has a market cap of $12.07 billion, a PE ratio of 27.45, a P/E/G ratio of 1.68 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (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%. Nordson's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 EPS. As a group, equities analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.46%. Nordson's payout ratio is 40.10%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NDSN. BNP Paribas lowered shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a report on Monday, February 24th. KeyCorp lowered their target price on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Vertical Research assumed coverage on Nordson in a research note on Tuesday. They issued a "hold" rating and a $245.00 price target on the stock. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Oppenheimer upgraded 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. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.00.

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.