Rhumbline Advisers Acquires 12,836 Shares of Nordson Co. (NASDAQ:NDSN)

Rhumbline Advisers lifted its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,886 shares of the industrial products company's stock after purchasing an additional 12,836 shares during the quarter. Rhumbline Advisers owned 0.20% of Nordson worth $22,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NDSN. MassMutual Private Wealth & Trust FSB lifted its position in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 89 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Nordson by 73.7% during 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 bought a new stake in shares of Nordson during the 4th quarter worth $62,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Nordson during the 4th quarter worth $92,000. Finally, Generali Asset Management SPA SGR purchased a new position in Nordson in the fourth quarter worth $98,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Trading Up 2.1%

NDSN stock traded up $4.52 during trading on Monday, hitting $219.28. 464,091 shares of the company traded hands, compared to its average volume of 312,639. The company has a 50-day moving average of $192.64 and a 200-day moving average of $209.74. 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 Co. has a 1 year low of $165.03 and a 1 year high of $266.86. The firm has a market capitalization of $12.39 billion, a PE ratio of 27.90, a P/E/G ratio of 1.65 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business's quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson's payout ratio is 40.10%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NDSN. KeyCorp lowered their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird raised their price objective on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 target price for the company. in a research report on Monday, February 24th. Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Friday, May 30th. Finally, Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.17.

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.