Vest Financial LLC Has $61.98 Million Position in Nordson Corporation $NDSN

Key Points

• Vest Financial LLC increased its stake in Nordson Corporation by 17.4%, owning 289,141 shares, valued at approximately $61.98 million, making it their 23rd largest position.
• Nordson recently declared a quarterly dividend increase from $0.78 to $0.82, which translates to an annualized yield of 1.4%.
• Following the recent quarterly earnings announcement, Nordson reported earnings of $2.42 per share and a revenue of $646.86 million for the quarter.

Vest Financial LLC raised its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 17.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,141 shares of the industrial products company's stock after buying an additional 42,762 shares during the quarter. Nordson comprises 0.9% of Vest Financial LLC's portfolio, making the stock its 23rd biggest position. Vest Financial LLC owned 0.51% of Nordson worth $61,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. lifted its stake in Nordson by 36.7% in the 1st 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. Three Seasons Wealth LLC lifted its stake in Nordson by 3.0% in the 2nd quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company's stock valued at $397,000 after acquiring an additional 54 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Nordson by 2.2% in the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company's stock valued at $553,000 after acquiring an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 67 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Nordson by 0.6% in the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock valued at $2,146,000 after acquiring an additional 69 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Down 2.4%

NDSN opened at $228.16 on Monday. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The stock's fifty day simple moving average is $223.26 and its 200 day simple moving average is $210.44. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. The stock has a market cap of $12.82 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The business had revenue of $646.86 million for the quarter. As a group, research analysts expect 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. Investors of record on Thursday, September 11th were paid a $0.82 dividend. This is a boost from Nordson's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson's dividend payout ratio (DPR) is currently 41.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wolfe Research assumed coverage on Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Robert W. Baird upped their price objective on Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $240.00 price objective on shares of Nordson in a research note on Thursday, August 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Nordson in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.

Want to see what other hedge funds are holding NDSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordson Corporation (NASDAQ:NDSN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.