Nordson Corporation $NDSN Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB sold 2,032 shares of Nordson Corporation, reducing its holdings by 5.8%, with the firm now owning approximately 0.06% valued at $7.13 million.
• Institutional investors collectively own 72.11% of Nordson's stock, with significant increases to investments from major firms like Massachusetts Financial Services and Invesco Ltd.
• Nordson's recent earnings report indicated a net margin of 16.34% and the company declared an increased quarterly dividend of $0.82 per share, up from $0.78.

Wilmington Savings Fund Society FSB cut its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 5.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,282 shares of the industrial products company's stock after selling 2,032 shares during the period. Wilmington Savings Fund Society FSB owned approximately 0.06% of Nordson worth $7,135,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NDSN. Massachusetts Financial Services Co. MA grew its position in shares of Nordson by 156.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after acquiring an additional 621,734 shares during the period. Confluence Investment Management LLC grew its position in shares of Nordson by 118.5% during the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company's stock valued at $72,048,000 after acquiring an additional 182,305 shares during the period. Nuveen LLC acquired a new stake in Nordson in the 1st quarter worth about $29,125,000. Invesco Ltd. boosted its holdings in Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock worth $210,536,000 after buying an additional 142,991 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Nordson in the 1st quarter worth about $25,827,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NDSN. Vertical Research began coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective on the stock. Wolfe Research began coverage on Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Nordson in a report on Wednesday, October 8th. KeyCorp lifted their price objective on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Oppenheimer lifted their price objective on Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Nordson has a consensus rating of "Moderate Buy" and a consensus price target of $255.75.

Nordson Trading Up 1.2%

NDSN opened at $233.37 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The company's 50 day simple moving average is $224.01 and its two-hundred day simple moving average is $210.81. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The business had revenue of $646.86 million for the quarter. Analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, September 11th. This is a boost from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio is presently 41.21%.

About Nordson

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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