Bank of Nova Scotia decreased its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 77.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,301 shares of the industrial products company's stock after selling 18,049 shares during the quarter. Bank of Nova Scotia's holdings in Nordson were worth $1,069,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Lazard Asset Management LLC raised its position in Nordson by 3.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,561,866 shares of the industrial products company's stock worth $326,803,000 after buying an additional 47,052 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Nordson by 156.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after purchasing an additional 621,734 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Nordson by 2.9% during the 4th quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company's stock valued at $180,036,000 after purchasing an additional 24,030 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Nordson by 0.7% during the 4th quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock valued at $159,280,000 after purchasing an additional 4,955 shares during the last quarter. Finally, FMR LLC increased its position in shares of Nordson by 19.2% during the 4th quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after purchasing an additional 111,538 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.
Nordson Stock Performance
Shares of NASDAQ:NDSN traded down $1.02 during mid-day trading on Friday, reaching $211.04. 268,817 shares of the company traded hands, compared to its average volume of 341,926. The company's 50 day moving average price is $216.43 and its 200-day moving average price is $206.84. The firm has a market cap of $11.93 billion, a PE ratio of 27.13, a PEG ratio of 1.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. 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 announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (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 the consensus estimate of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 EPS. On average, equities analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.
Nordson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio is presently 40.10%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on NDSN shares. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a research 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 target for the company in a research report on Friday, May 30th. 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 price target for the company. KeyCorp upped 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. Finally, Wolfe Research started coverage on shares of Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nordson has a consensus rating of "Moderate Buy" and a consensus target price of $254.86.
Get Our Latest Stock Analysis on NDSN
Nordson Profile
(
Free Report)
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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