Nuance Investments LLC Takes $6.02 Million Position in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Nuance Investments LLC has acquired a new stake in Nordson Corporation, purchasing 29,866 shares valued at approximately $6.02 million, representing about 0.05% of the company.
• Institutional investors own 72.11% of Nordson's stock, indicating strong institutional interest in the company's shares.
• The company announced a quarterly dividend of $0.78 per share, reflecting an annualized dividend yield of 1.5% and a payout ratio of 40.10%.

Nuance Investments LLC acquired a new stake in Nordson Corporation (NASDAQ:NDSN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 29,866 shares of the industrial products company's stock, valued at approximately $6,024,000. Nuance Investments LLC owned about 0.05% of Nordson at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake 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 valued at $486,000 after acquiring an additional 67 shares during the period. DAVENPORT & Co LLC raised its stake in Nordson by 18.7% in the 1st quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company's stock valued at $535,000 after acquiring an additional 418 shares during the period. Amalgamated Bank raised its stake in Nordson by 1.2% in the 1st quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company's stock valued at $2,153,000 after acquiring an additional 127 shares during the period. Teacher Retirement System of Texas bought a new stake in Nordson in the 1st quarter valued at $1,599,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Nordson by 6.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company's stock valued at $981,000 after acquiring an additional 283 shares during the period. Institutional investors and hedge funds own 72.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen cut Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Vertical Research assumed coverage on Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective on the stock. Wolfe Research assumed coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. KeyCorp increased their price objective on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Robert W. Baird raised their price target on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Six investment 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.86.

Nordson Stock Performance

NASDAQ:NDSN opened at $210.61 on Tuesday. The stock's 50-day simple moving average is $216.39 and its 200 day simple moving average is $206.70. The firm has a market capitalization of $11.90 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86.

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 for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. Nordson's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is presently 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.

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