Trueblood Wealth Management LLC lessened its holdings in Nordson Co. (NASDAQ:NDSN - Free Report) by 47.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,882 shares of the industrial products company's stock after selling 1,705 shares during the quarter. Trueblood Wealth Management LLC's holdings in Nordson were worth $380,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NDSN. MassMutual Private Wealth & Trust FSB boosted its stake in Nordson by 86.4% in 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. Tortoise Investment Management LLC grew its stake in 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 buying an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Nordson during the fourth quarter worth approximately $62,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Nordson in the fourth quarter valued at approximately $92,000. Finally, Generali Asset Management SPA SGR purchased a new position in Nordson during the 4th quarter worth $98,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.
Nordson Price Performance
Shares of NASDAQ NDSN traded down $3.43 during trading on Friday, reaching $214.61. The company had a trading volume of 203,340 shares, compared to its average volume of 314,600. Nordson Co. has a twelve month low of $165.03 and a twelve month high of $266.86. The stock has a market capitalization of $12.13 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The stock has a 50-day moving average price of $195.49 and a two-hundred day moving average price of $209.30. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72.
Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 earnings per share. As a group, sell-side analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.
Nordson Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, June 18th. Nordson's dividend payout ratio is currently 40.10%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NDSN. KeyCorp decreased their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a research note on Friday, May 30th. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a research note on Monday, February 24th. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Robert W. Baird raised 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. 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 company. According to MarketBeat, Nordson currently has an average rating of "Moderate Buy" and an average price target of $253.17.
Check Out Our Latest Stock Report on NDSN
About Nordson
(
Free Report)
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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