Nordson Corporation (NASDAQ:NDSN) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in Nordson Corporation by 9.0% in the first quarter, bringing its total holdings to 14,990 shares valued at approximately $3,024,000.
• Several analysts have raised their price targets for Nordson, with Oppenheimer upgrading the stock's rating to "outperform" and setting a target of $260.00, while the average price target now stands at $254.86.
• Nordson announced a quarterly dividend of $0.78, yielding 1.5%, and reported a revenue increase of 5.0% year-over-year in its latest earnings report.

Cetera Investment Advisers lessened its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,990 shares of the industrial products company's stock after selling 1,479 shares during the quarter. Cetera Investment Advisers' holdings in Nordson were worth $3,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDSN. Resona Asset Management Co. Ltd. purchased a new stake in Nordson during the 4th quarter worth about $4,556,000. Russell Investments Group Ltd. grew its holdings in Nordson by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 67,635 shares of the industrial products company's stock valued at $14,152,000 after buying an additional 1,038 shares during the period. FMR LLC grew its holdings in Nordson by 19.2% in the 4th quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after buying an additional 111,538 shares during the period. Bank of Montreal Can grew its holdings in Nordson by 3.2% in the 4th quarter. Bank of Montreal Can now owns 56,113 shares of the industrial products company's stock valued at $11,741,000 after buying an additional 1,763 shares during the period. Finally, Bank of Nova Scotia grew 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 valued at $4,886,000 after buying an additional 16,388 shares during the period. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on NDSN shares. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a report on Friday, May 30th. KeyCorp lifted their price target on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Robert W. Baird boosted their target price on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Vertical Research began coverage on Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. Finally, Wolfe Research began coverage on Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating for the company. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $254.86.

Nordson Stock Up 0.7%

Shares of Nordson stock opened at $213.98 on Wednesday. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.63 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. The stock has a 50-day simple moving average of $216.08 and a 200-day simple moving average of $206.99.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $671.36 million. During the same quarter last year, the company posted $2.34 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

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

Nordson Company 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.

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