Nordson Corporation (NASDAQ:NDSN) Shares Bought by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC significantly increased its holdings in Nordson Corporation by 28,230.8%, acquiring an additional 3,670 shares, bringing their total to 3,683 shares valued at $743,000.
• Nordson reported a quarterly earnings per share (EPS) of $2.42, exceeding analysts' expectations of $2.36, with revenue of $682.94 million compared to forecasts of $671.36 million.
• The company's recent dividend payment was $0.78 per share, reflecting an annualized dividend of $3.12 and a yield of 1.5%.

New Age Alpha Advisors LLC lifted its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 28,230.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,683 shares of the industrial products company's stock after buying an additional 3,670 shares during the period. New Age Alpha Advisors LLC's holdings in Nordson were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Nordson by 1.6% in the fourth quarter. Russell Investments Group Ltd. now owns 67,635 shares of the industrial products company's stock worth $14,152,000 after buying an additional 1,038 shares during the last quarter. FMR LLC increased its position in Nordson by 19.2% in the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock worth $145,135,000 after buying an additional 111,538 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Nordson by 3.2% in the fourth quarter. Bank of Montreal Can now owns 56,113 shares of the industrial products company's stock worth $11,741,000 after buying an additional 1,763 shares during the period. Bank of Nova Scotia increased its holdings in Nordson by 235.4% in the 4th quarter. Bank of Nova Scotia now owns 23,350 shares of the industrial products company's stock worth $4,886,000 after acquiring an additional 16,388 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Nordson during the 4th quarter worth approximately $11,365,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NDSN. Wall Street Zen downgraded shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a report on Friday, May 30th. 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 note on Tuesday, July 15th. Wolfe Research initiated coverage on Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Finally, Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nordson presently has an average rating of "Moderate Buy" and an average target price of $254.86.

Nordson Trading Down 0.5%

Shares of NDSN traded down $1.02 during trading hours on Friday, reaching $211.04. 268,817 shares of the company traded hands, compared to its average volume of 341,729. The stock's fifty day moving average price is $216.43 and its 200 day moving average price is $206.75. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.62 and a beta of 0.89. Nordson Corporation has a 12-month low of $165.03 and a 12-month 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.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. During the same quarter in the prior year, the company earned $2.34 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio is currently 40.10%.

Nordson 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.