Nordson Corporation (NASDAQ:NDSN) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in Nordson Corporation by 51.6% during the first quarter, now owning 4,302 shares valued at $868,000.
• Analysts have recently upgraded their ratings on Nordson, with Oppenheimer setting a price target of $260.00 and KeyCorp raising theirs to $250.00, reflecting positive market sentiment.
• Nordson reported $2.42 EPS for the last quarter, surpassing expectations, and announced a quarterly dividend of $0.78 per share, indicating a 1.45% yield.

Pacer Advisors Inc. cut its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 51.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,302 shares of the industrial products company's stock after selling 4,593 shares during the quarter. Pacer Advisors Inc.'s holdings in Nordson were worth $868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NDSN. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Nordson by 86.4% during the first 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 in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nordson during the fourth quarter worth about $62,000. CX Institutional purchased a new stake in shares of Nordson during the first quarter worth about $67,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Nordson during the fourth quarter worth about $92,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Nordson by 166.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 480 shares of the industrial products company's stock worth $100,000 after buying an additional 300 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NDSN shares. KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wolfe Research started coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Vertical Research started coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price for the company. Robert W. Baird boosted 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, Oppenheimer upgraded shares of 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. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.86.

Nordson Trading Down 2.3%

NDSN traded down $4.96 during trading on Friday, hitting $209.25. 422,072 shares of the company's stock were exchanged, compared to its average volume of 299,359. The stock has a 50 day moving average price of $215.38 and a 200 day moving average price of $207.05. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. 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 firm has a market cap of $11.82 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping 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 business had revenue of $682.94 million for the quarter, compared to analysts' expectations of $671.36 million. During the same period in the previous year, the company posted $2.34 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

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 $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 1.5%. Nordson's dividend payout ratio is currently 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.