Neuberger Berman Group LLC Sells 14,792 Shares of Nordson Corporation (NASDAQ:NDSN)

Key Points

• Neuberger Berman Group LLC reduced its stake in Nordson Corporation (NASDAQ:NDSN) by 3.1%, holding approximately 458,372 shares valued at around $92.46 million following sales during the first quarter.
• Several other institutional investors, including National Pension Service and Westpac Banking Corp, have also significantly increased their positions in Nordson during the same period.
• Nordson's recent financial performance showed a 5% year-over-year revenue increase, with earnings per share surpassing analyst expectations, further solidifying its status in the market.

Neuberger Berman Group LLC reduced its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,372 shares of the industrial products company's stock after selling 14,792 shares during the quarter. Neuberger Berman Group LLC owned 0.81% of Nordson worth $92,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised 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 valued at $39,000 after acquiring an additional 89 shares during the period. Harbour Investments Inc. grew its position in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 54 shares during the last quarter. National Pension Service increased its stake in shares of Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 86 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Nordson during the 4th quarter worth approximately $62,000. Finally, CX Institutional acquired a new position in Nordson in the 1st quarter valued at $67,000. Institutional investors own 72.11% of the company's stock.

Nordson Price Performance

NASDAQ:NDSN traded down $3.78 on Friday, hitting $213.44. The company had a trading volume of 319,891 shares, compared to its average volume of 318,501. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. 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 stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.64 and a beta of 0.89. The firm has a 50 day moving average of $216.68 and a two-hundred day moving average of $206.69.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $682.94 million during 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%. Nordson's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS. On average, research analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued 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 40.10%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Vertical Research started coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price on the stock. KeyCorp lifted their price target on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Robert W. Baird increased their price target on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Finally, Oppenheimer raised 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. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $254.86.

Nordson Company 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.