Vestmark Advisory Solutions Inc. Has $8.59 Million Stake in Nordson Corporation (NASDAQ:NDSN)

Key Points

• Vestmark Advisory Solutions Inc. increased its position in Nordson Corporation by 126.2%, owning 42,578 shares worth approximately $8.59 million as of the end of the last reporting period.
• Nordson reported an EPS of $2.42 for the most recent quarter, surpassing analysts' estimates and reflecting a 5% year-over-year revenue growth to $682.94 million.
• The company's stock has a current average target price of $254.86, with a consensus rating of "Moderate Buy" from various analysts.

Vestmark Advisory Solutions Inc. lifted its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 126.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,578 shares of the industrial products company's stock after acquiring an additional 23,752 shares during the period. Vestmark Advisory Solutions Inc. owned approximately 0.07% of Nordson worth $8,589,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Nordson by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after acquiring an additional 67 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Nordson by 18.7% during the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company's stock worth $535,000 after acquiring an additional 418 shares in the last quarter. Amalgamated Bank increased its position in shares of Nordson by 1.2% during the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company's stock worth $2,153,000 after acquiring an additional 127 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Nordson during the first quarter worth $1,599,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Nordson by 6.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company's stock worth $981,000 after acquiring an additional 283 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

Nordson Stock Performance

NDSN stock traded down $3.78 during trading hours on Friday, reaching $213.44. The stock had a trading volume of 319,891 shares, compared to its average volume of 318,501. The stock has a market capitalization of $12.06 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The stock has a 50-day simple moving average of $216.68 and a 200 day simple moving average of $206.69. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.34 earnings per share. Analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NDSN. Vertical Research started coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Wall Street Zen downgraded shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. KeyCorp raised their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price for the company in a research report on Friday, May 30th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $254.86.

About Nordson

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.