Sumitomo Mitsui Trust Group Inc. Has $25.42 Million Position in Nordson Corporation (NASDAQ:NDSN)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,033 shares of the industrial products company's stock after purchasing an additional 2,414 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Nordson worth $25,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NDSN. MassMutual Private Wealth & Trust FSB boosted its holdings in 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. Tortoise Investment Management LLC lifted its position in shares of Nordson by 73.7% during the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after acquiring an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Nordson during the 4th quarter worth $62,000. CX Institutional acquired a new position in shares of Nordson in the 1st quarter worth $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Nordson during the fourth quarter worth $92,000. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Stock Up 0.0%

Shares of Nordson stock traded up $0.08 during trading on Friday, hitting $222.83. 169,670 shares of the stock traded hands, compared to its average volume of 329,955. The company has a fifty day moving average price of $206.44 and a two-hundred day moving average price of $205.61. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86. The stock has a market cap of $12.59 billion, a P/E ratio of 28.64, a PEG ratio of 1.71 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 (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 the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million during the quarter, compared to the consensus estimate of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 earnings per share. Equities research analysts predict 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. Shareholders of record on Thursday, June 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is 40.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NDSN shares. Robert W. Baird increased their price target on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Wolfe Research started coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a research report on Friday, May 30th. Vertical Research began coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective on the stock. Finally, KeyCorp cut their target price on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.00.

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.