TD Asset Management Inc Has $3.17 Million Stock Holdings in Nordson Corporation $NDSN

Key Points

• TD Asset Management Inc has decreased its stake in Nordson Corporation by 23.8%, now holding 14,769 shares valued at approximately $3.17 million.
• Nordson recently increased its quarterly dividend to $0.82 per share, representing an annualized dividend of $3.28 and a dividend yield of 1.4%.
• Analysts have a consensus rating of Moderate Buy for Nordson, with an average price target of $255.75.

TD Asset Management Inc cut its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 23.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,769 shares of the industrial products company's stock after selling 4,618 shares during the period. TD Asset Management Inc's holdings in Nordson were worth $3,166,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NDSN. Massachusetts Financial Services Co. MA boosted its position in Nordson by 156.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after purchasing an additional 621,734 shares during the last quarter. Confluence Investment Management LLC raised its stake in Nordson by 118.5% in the second quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company's stock valued at $72,048,000 after buying an additional 182,305 shares during the period. Nuveen LLC bought a new stake in Nordson in the first quarter valued at approximately $29,125,000. Invesco Ltd. raised its stake in Nordson by 15.9% in the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock valued at $210,536,000 after buying an additional 142,991 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Nordson in the first quarter valued at approximately $25,827,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Price Performance

NASDAQ:NDSN opened at $235.66 on Tuesday. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The firm's 50-day simple moving average is $225.77 and its 200 day simple moving average is $212.03. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.77 and a beta of 0.96.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $646.86 million for the quarter. As a group, sell-side analysts predict that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a $0.82 dividend. The ex-dividend date was Thursday, September 11th. This is a positive change from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.4%. Nordson's dividend payout ratio (DPR) is presently 41.21%.

Insider Buying and Selling at Nordson

In other news, EVP Joseph P. Kelley sold 2,300 shares of Nordson stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the sale, the executive vice president directly owned 8,605 shares in the company, valued at approximately $1,999,715.95. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Nordson in a research note on Wednesday, October 8th. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Jefferies Financial Group restated a "hold" rating and issued a $240.00 price objective on shares of Nordson in a research note on Thursday, August 21st. Robert W. Baird upped their price objective on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Oppenheimer upped their price objective on Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nordson presently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

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.

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