Townsquare Capital LLC Raises Stock Holdings in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Townsquare Capital LLC increased its stake in Nordson Corporation by 10.6%, acquiring an additional 1,398 shares for a total of 14,572 shares valued at approximately $2.94 million.
• Several hedge funds have recently adjusted their holdings in Nordson, with MassMutual Private Wealth & Trust FSB boosting its position by 86.4%.
• Analysts have varied opinions on Nordson's stock, with a mix of buy, hold, and neutral ratings, resulting in an average target price of $254.86.

Townsquare Capital LLC grew its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,572 shares of the industrial products company's stock after acquiring an additional 1,398 shares during the quarter. Townsquare Capital LLC's holdings in Nordson were worth $2,940,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased 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 valued at $39,000 after acquiring an additional 89 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 54 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Nordson in the 4th quarter worth about $62,000. CX Institutional bought a new stake in Nordson in the 1st quarter worth about $67,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Nordson in the 4th quarter worth about $92,000. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Down 1.7%

NDSN traded down $3.78 during trading hours on Friday, reaching $213.44. 319,891 shares of the company's stock traded hands, compared to its average volume of 318,501. The firm has a 50-day moving average price of $216.68 and a 200 day moving average price of $206.77. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $12.06 billion, a PE ratio of 27.43, a PEG ratio of 1.67 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The business had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. During the same period in the prior year, the business earned $2.34 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NDSN shares. KeyCorp raised their target price on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wolfe Research started coverage on Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Wall Street Zen cut Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Vertical Research assumed coverage on Nordson in a research note on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective on the stock. Finally, Oppenheimer raised 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. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $254.86.

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.