Cerity Partners LLC Sells 2,147 Shares of Nordson Corporation (NASDAQ:NDSN)

Cerity Partners LLC lessened its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,430 shares of the industrial products company's stock after selling 2,147 shares during the quarter. Cerity Partners LLC's holdings in Nordson were worth $2,306,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of Nordson by 0.6% in the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock valued at $2,146,000 after purchasing an additional 69 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Nordson by 2.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 54,237 shares of the industrial products company's stock valued at $10,719,000 after purchasing an additional 1,495 shares during the period. Blackhawk Capital Partners LLC. acquired a new stake in shares of Nordson in the 1st quarter valued at about $585,000. HM Payson & Co. raised its stake in shares of Nordson by 37.5% in the 1st quarter. HM Payson & Co. now owns 660 shares of the industrial products company's stock valued at $133,000 after purchasing an additional 180 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in shares of Nordson by 7.1% in the 1st quarter. IFM Investors Pty Ltd now owns 10,518 shares of the industrial products company's stock valued at $2,122,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 72.11% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. KeyCorp lifted their target price on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. 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. Vertical Research assumed coverage on Nordson in a research report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price on the stock. Finally, Wolfe Research assumed coverage on Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Six investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $254.86.

Nordson Stock Performance

Shares of NASDAQ:NDSN traded down $2.77 during trading on Monday, reaching $214.30. 281,342 shares of the stock were exchanged, compared to its average volume of 332,581. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a market cap of $12.11 billion, a PE ratio of 27.55, a PEG ratio of 1.67 and a beta of 0.89. The stock has a 50-day moving average price of $212.07 and a 200-day moving average price of $206.20. 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 issued its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The company had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. During the same quarter in the previous year, the company posted $2.34 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. Research 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. Stockholders of record on Thursday, June 19th were given a $0.78 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.46%. Nordson's payout ratio is 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.