Nordson Corporation (NASDAQ:NDSN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,950 shares of the industrial products company's stock after selling 1,456 shares during the period. Envestnet Asset Management Inc. owned about 0.47% of Nordson worth $53,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Nordson by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company's stock valued at $1,302,887,000 after buying an additional 93,146 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Nordson by 3.1% during 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 purchasing an additional 47,052 shares during the last quarter. Geode Capital Management LLC increased its stake in Nordson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company's stock worth $303,918,000 after buying an additional 12,590 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Nordson by 2.9% during the fourth quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company's stock valued at $180,036,000 after acquiring an additional 24,030 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Nordson by 0.7% in the fourth quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock valued at $159,280,000 after acquiring an additional 4,955 shares in the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NDSN shares. Robert W. Baird increased their target price 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. Vertical Research started coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target for the company. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price for the company in a report on Friday, May 30th. Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, KeyCorp boosted their price objective on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday. Six 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.86.

Nordson Stock Down 0.9%

NASDAQ:NDSN traded down $1.89 during midday trading on Wednesday, hitting $213.01. 385,226 shares of the company were exchanged, compared to its average volume of 382,191. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a market capitalization of $12.04 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $210.64 and a 200 day simple moving average of $206.05.

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 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 analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. As a group, equities analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio is presently 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.