Millennium Management LLC Raises Position in Nordson Co. (NASDAQ:NDSN)

Millennium Management LLC boosted its holdings in Nordson Co. (NASDAQ:NDSN - Free Report) by 287.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,729 shares of the industrial products company's stock after buying an additional 85,126 shares during the period. Millennium Management LLC owned approximately 0.20% of Nordson worth $24,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its stake in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after buying an additional 52 shares in the last quarter. Tortoise Investment Management LLC grew its stake in Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after buying an additional 115 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Nordson in the 4th quarter valued at approximately $62,000. Brooklyn Investment Group grew its stake in Nordson by 695.0% in the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company's stock valued at $67,000 after buying an additional 278 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Nordson in the 4th quarter valued at approximately $92,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDSN has been the subject of a number of recent research reports. KeyCorp reduced their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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 research note on Monday, February 24th. Finally, Loop Capital raised shares of Nordson from a "hold" rating to a "buy" rating and upped their price target for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $250.20.

Nordson Trading Down 0.4%

Nordson stock opened at $204.45 on Tuesday. The stock has a market cap of $11.64 billion, a P/E ratio of 26.01, a PEG ratio of 1.65 and a beta of 0.90. Nordson Co. has a fifty-two week low of $165.03 and a fifty-two week high of $272.27. The firm's fifty day moving average price is $192.91 and its 200-day moving average price is $214.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Equities research analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a $0.78 dividend. The ex-dividend date was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.53%. Nordson's dividend payout ratio (DPR) is presently 39.69%.

About Nordson

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.

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