Nordson Corporation (NASDAQ:NDSN) Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its stake in Nordson Corporation by 4.5% in the 1st quarter, holding 25,944 shares valued at $5.23 million after selling 1,210 shares.
• Nordson reported a quarterly earnings per share of $2.42, exceeding analysts' expectations, with a revenue of $682.94 million for the quarter.
• The company announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 1.5% and a payout ratio of 40.10%.

Benjamin Edwards Inc. reduced its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,944 shares of the industrial products company's stock after selling 1,210 shares during the period. Benjamin Edwards Inc.'s holdings in Nordson were worth $5,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NDSN. FMR LLC increased its position in Nordson by 19.2% during the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock worth $145,135,000 after purchasing an additional 111,538 shares during the last quarter. Bank of Montreal Can increased its position in shares of Nordson by 3.2% during the fourth quarter. Bank of Montreal Can now owns 56,113 shares of the industrial products company's stock valued at $11,741,000 after acquiring an additional 1,763 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Nordson during the fourth quarter valued at about $11,365,000. Bessemer Group Inc. increased its position in shares of Nordson by 2.3% during the fourth quarter. Bessemer Group Inc. now owns 4,555 shares of the industrial products company's stock valued at $953,000 after acquiring an additional 101 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Nordson by 0.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 25,561 shares of the industrial products company's stock valued at $5,348,000 after acquiring an additional 130 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Trading Down 0.5%

Shares of NDSN stock opened at $211.04 on Monday. 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 market capitalization of $11.93 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89. The company has a 50 day moving average price of $216.43 and a 200 day moving average price of $206.75. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two 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 for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $682.94 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share. Equities research analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. KeyCorp lifted 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. Vertical Research assumed 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. Finally, Oppenheimer upgraded 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nordson presently has an average rating of "Moderate Buy" and an average price target of $254.86.

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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