Toronto Dominion Bank Purchases 10,832 Shares of Nordson Co. (NASDAQ:NDSN)

Toronto Dominion Bank increased its stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,070 shares of the industrial products company's stock after purchasing an additional 10,832 shares during the period. Toronto Dominion Bank owned 0.05% of Nordson worth $6,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. Tortoise Investment Management LLC boosted 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 worth $57,000 after purchasing an additional 115 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Nordson in the fourth quarter valued at $62,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Nordson in the fourth quarter valued at about $92,000. Generali Asset Management SPA SGR purchased a new position in Nordson during the fourth quarter worth about $98,000. Finally, Brown Brothers Harriman & Co. grew its position in 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 during the period. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Price Performance

NASDAQ NDSN traded up $3.52 during trading on Friday, hitting $212.49. 908,619 shares of the company's stock were exchanged, compared to its average volume of 307,845. The stock's 50 day moving average price is $191.64 and its two-hundred day moving average price is $211.80. Nordson Co. has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The company has a market cap of $12.09 billion, a PE ratio of 27.03, a P/E/G ratio of 1.65 and a beta of 0.90.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $682.94 million for the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 EPS. Research analysts expect that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.47%. Nordson's dividend payout ratio (DPR) is presently 40.10%.

Analyst Ratings Changes

Several research firms have recently commented on NDSN. KeyCorp lowered their price target on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a research note on Friday. BNP Paribas lowered shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target for the company. in a report on Monday, February 24th. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.17.

Nordson 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.