Cambridge Investment Research Advisors Inc. cut its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,191 shares of the industrial products company's stock after selling 2,715 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Nordson were worth $1,854,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 acquiring an additional 89 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock worth $57,000 after buying an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Nordson during the fourth quarter worth $62,000. CX Institutional bought a new position in shares of Nordson in the first quarter valued at $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Nordson during the fourth quarter valued at about $92,000. Institutional investors own 72.11% of the company's stock.
Analysts Set New Price Targets
NDSN has been the topic of several recent research reports. Robert W. Baird raised 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. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a research report on Friday, May 30th. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Vertical Research initiated coverage on Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating for the company. Six 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $252.00.
Check Out Our Latest Stock Report on Nordson
Nordson Stock Performance
NDSN traded up $0.08 during trading on Friday, hitting $222.83. 169,670 shares of the company traded hands, compared to its average volume of 329,360. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock's fifty day moving average is $206.44 and its 200 day moving average is $205.66. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The firm has a market cap of $12.59 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89.
Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) 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 company had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same quarter last year, the business posted $2.34 EPS. Nordson's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.
Nordson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is currently 40.10%.
Nordson Company Profile
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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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