Nuveen LLC Takes Position in Nordson Corporation $NDSN

Nuveen LLC acquired a new stake in Nordson Corporation (NASDAQ:NDSN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,382 shares of the industrial products company's stock, valued at approximately $29,125,000. Nuveen LLC owned about 0.25% of Nordson as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Harbour Investments Inc. boosted its stake in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 54 shares during the period. Wedbush Securities Inc. lifted its holdings in Nordson by 2.2% during the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company's stock worth $553,000 after buying an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 67 shares during the period. Allworth Financial LP grew its stake in shares of Nordson by 0.6% in the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock worth $2,146,000 after acquiring an additional 69 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its stake in shares of Nordson by 1.6% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock worth $884,000 after acquiring an additional 71 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NDSN shares. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Wolfe Research assumed coverage on Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Finally, Vertical Research initiated coverage on shares of Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus target price of $254.86.

Nordson Stock Down 1.8%

NDSN stock traded down $3.98 during midday trading on Wednesday, reaching $213.52. 581,806 shares of the company were exchanged, compared to its average volume of 373,279. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The stock's 50-day simple moving average is $216.45 and its 200 day simple moving average is $206.63.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its earnings results on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.61 by $0.12. Nordson had a net margin of 16.51% and a return on equity of 19.10%. On average, equities analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

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