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

Nordson logo with Industrials background

Envestnet Asset Management Inc. trimmed its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,950 shares of the industrial products company's stock after selling 1,456 shares during the period. Envestnet Asset Management Inc. owned 0.47% of Nordson worth $53,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Allspring Global Investments Holdings LLC boosted its holdings in Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after buying an additional 67 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in Nordson by 1.6% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock worth $884,000 after buying an additional 71 shares during the period. Portside Wealth Group LLC boosted its holdings in Nordson by 6.6% in the 1st quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock worth $239,000 after buying an additional 71 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Nordson by 5.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,829 shares of the industrial products company's stock worth $370,000 after buying an additional 87 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after buying an additional 89 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NDSN has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Robert W. Baird increased their price objective on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. KeyCorp dropped their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Vertical Research began coverage on shares of Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Finally, Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $252.00.

Check Out Our Latest Stock Report on NDSN

Nordson Trading Down 1.1%

Shares of NASDAQ:NDSN traded down $2.35 during trading on Friday, reaching $220.82. 272,748 shares of the company were exchanged, compared to its average volume of 330,652. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The business's fifty day simple moving average is $209.56 and its 200-day simple moving average is $205.99. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The firm has a market capitalization of $12.48 billion, a PE ratio of 28.38, a P/E/G ratio of 1.70 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same period last year, the firm earned $2.34 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.41%. Nordson's dividend payout ratio (DPR) is 40.10%.

About Nordson

(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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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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