Resona Asset Management Co. Ltd. Grows Position in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Nordson Corporation by 15.8%, now holding 25,111 shares valued at over $5 million.
• Nordson reported a quarterly EPS of $2.42, exceeding expectations and showing a 5% year-over-year revenue growth with total revenues of $682.94 million.
• Institutional investors dominate Nordson's stock ownership, holding 72.11% of the shares, with several firms recently adjusting their positions significantly.

Resona Asset Management Co. Ltd. boosted its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,111 shares of the industrial products company's stock after buying an additional 3,420 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Nordson were worth $5,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 purchasing an additional 89 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Nordson in the 4th quarter worth $62,000. CX Institutional bought a new stake in shares of Nordson in the first quarter worth $67,000. Finally, Covestor Ltd grew its holdings in shares of Nordson by 39.4% in the first quarter. Covestor Ltd now owns 386 shares of the industrial products company's stock worth $78,000 after acquiring an additional 109 shares during the period. Institutional investors own 72.11% of the company's stock.

Nordson Price Performance

NASDAQ:NDSN opened at $213.44 on Friday. 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 company has a market capitalization of $12.06 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.67 and a beta of 0.89. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The business's 50-day moving average is $216.68 and its 200 day moving average is $206.77.

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. The company had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. On average, equities research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 18th. Nordson's payout ratio is currently 40.10%.

Analyst Ratings Changes

Several analysts recently commented on NDSN shares. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Vertical Research started coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective for the company. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a research report on Friday, May 30th. Wolfe Research started coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Finally, Robert W. Baird lifted their target price on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $254.86.

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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