LPL Financial LLC Boosts Position in Nordson Corporation (NASDAQ:NDSN)

Key Points

• LPL Financial LLC has increased its holdings in Nordson Corporation by 28.6%, owning 155,474 shares valued at approximately $31.36 million as of the latest SEC filing.
• In its recent earnings report, Nordson posted an EPS of $2.42, surpassing analysts' expectations of $2.36, with revenue of $682.94 million for the quarter.
• Nordson Corporation declared a quarterly dividend of $0.78, representing an annualized dividend of $3.12 and a yield of 1.5%.

LPL Financial LLC lifted its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 28.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,474 shares of the industrial products company's stock after purchasing an additional 34,549 shares during the period. LPL Financial LLC owned 0.27% of Nordson worth $31,362,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its stake in shares of Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after acquiring an additional 89 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Nordson in the 4th quarter valued at $62,000. CX Institutional purchased a new stake in shares of Nordson in the 1st quarter worth about $67,000. Canada Post Corp Registered Pension Plan purchased a new position in Nordson in the 4th quarter valued at about $92,000. Finally, Westpac Banking Corp lifted its holdings in shares of Nordson by 22.8% during the 4th quarter. Westpac Banking Corp now owns 527 shares of the industrial products company's stock worth $110,000 after acquiring an additional 98 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NDSN shares. 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 note on Friday, May 30th. Vertical Research assumed coverage on Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective on the stock. KeyCorp raised their target price on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Wolfe Research began coverage on Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nordson currently has a consensus rating of "Moderate Buy" and an average price target of $254.86.

Nordson Stock Performance

NASDAQ:NDSN traded up $1.52 during mid-day trading on Tuesday, reaching $213.98. 299,206 shares of the company's stock were exchanged, compared to its average volume of 379,791. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The firm has a market capitalization of $12.09 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The business's fifty day simple moving average is $215.77 and its two-hundred day simple moving average is $206.94.

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

Nordson Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. Nordson's dividend payout ratio (DPR) is currently 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.