Nordea Investment Management AB Purchases 1,763 Shares of Nordson Corporation $NDSN

Key Points

• Nordea Investment Management AB increased its stake in Nordson Corporation by 21.2%, acquiring an additional 1,763 shares during the second quarter, valuing their total holdings at $2.16 million.
• Nordson has recently increased its quarterly dividend from $0.78 to $0.82, reflecting positive financial performance with a 1.4% yield.
• Analysts have set a new average target price of $255.75 for Nordson, with ratings ranging from "Strong Buy" to "Hold" across multiple institutions.

Nordea Investment Management AB lifted its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 21.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,083 shares of the industrial products company's stock after buying an additional 1,763 shares during the quarter. Nordea Investment Management AB's holdings in Nordson were worth $2,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Nordson in the 1st quarter valued at about $28,000. Trust Co. of Toledo NA OH purchased a new position in Nordson during the second quarter valued at approximately $31,000. UMB Bank n.a. raised its stake in Nordson by 96.3% in the second quarter. UMB Bank n.a. now owns 161 shares of the industrial products company's stock worth $35,000 after buying an additional 79 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after buying an additional 54 shares during the period. Finally, National Pension Service boosted its position in Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Stock Performance

NDSN opened at $234.15 on Thursday. The company has a market cap of $13.16 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm's 50-day moving average price is $226.46 and its 200-day moving average price is $212.36. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company had revenue of $646.86 million during the quarter. As a group, equities analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a $0.82 dividend. This is a positive change from Nordson's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson's dividend payout ratio (DPR) is 41.21%.

Insider Buying and Selling

In other Nordson news, EVP Joseph P. Kelley sold 2,200 shares of the business's stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the sale, the executive vice president owned 6,405 shares in the company, valued at approximately $1,537,200. The trade was a 25.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

NDSN has been the subject of several recent research reports. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Nordson in a report on Wednesday, October 8th. Oppenheimer increased their price target on shares of Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. KeyCorp lifted their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, DA Davidson set a $285.00 target price on shares of Nordson in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.75.

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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