Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Nordson Corporation by 12.8%, owning 0.22% of the company valued at $24.79 million as of its latest filing.
• Nordson reported a net margin of 16.51% and earnings per share of $2.42 for the last quarter, surpassing analysts' expectations of $2.36.
• The company announced a quarterly dividend of $0.78 per share, translating to an annualized dividend of $3.12 and a yield of 1.5%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 12.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,894 shares of the industrial products company's stock after purchasing an additional 13,949 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Nordson worth $24,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Deutsche Bank AG increased its holdings in Nordson by 3.8% in the 1st quarter. Deutsche Bank AG now owns 249,861 shares of the industrial products company's stock valued at $50,402,000 after buying an additional 9,038 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Nordson by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 470,997 shares of the industrial products company's stock valued at $95,010,000 after purchasing an additional 11,287 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Nordson during the 1st quarter valued at approximately $285,000. Natural Investments LLC bought a new stake in shares of Nordson during the 1st quarter valued at approximately $305,000. Finally, iA Global Asset Management Inc. grew its holdings in shares of Nordson by 38.9% during the 1st quarter. iA Global Asset Management Inc. now owns 1,874 shares of the industrial products company's stock valued at $378,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Price Performance

Nordson stock traded down $4.13 during mid-day trading on Thursday, hitting $217.46. 172,350 shares of the company traded hands, compared to its average volume of 373,613. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The stock has a fifty day moving average price of $216.63 and a 200-day moving average price of $206.87.

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

Nordson Dividend Announcement

The business also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's payout ratio is presently 40.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Robert W. Baird boosted their target price on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Wolfe Research began coverage on shares of Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. 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, KeyCorp boosted their price target 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. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.