Victory Capital Management Inc. Buys 4,313 Shares of Nordson Corporation (NASDAQ:NDSN)

Key Points

• Victory Capital Management Inc. increased its holdings in Nordson Corporation by 12.9%, owning approximately 37,673 shares valued at $7,599,000 as of the latest reporting period.
• Several institutional investors also heightened their positions in Nordson, with Massachusetts Financial Services Co. MA increasing its stake by 156.2% to own over 1 million shares worth $205,685,000.
• Nordson recently announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 1.41% and a payout ratio of 40.10%.

Victory Capital Management Inc. grew its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 12.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,673 shares of the industrial products company's stock after buying an additional 4,313 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Nordson worth $7,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Allspring Global Investments Holdings LLC increased its stake in shares of 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 worth $486,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP increased its stake in shares of Nordson by 0.6% in the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock worth $2,146,000 after purchasing an additional 69 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Nordson by 1.6% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock worth $884,000 after purchasing an additional 71 shares in the last quarter. Portside Wealth Group LLC increased its stake in shares of Nordson by 6.6% in the 1st quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock worth $239,000 after purchasing an additional 71 shares in the last quarter. Finally, Isthmus Partners LLC raised its holdings in Nordson by 6.1% during the first quarter. Isthmus Partners LLC now owns 1,464 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 84 shares during the period. 72.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on NDSN shares. Wolfe Research started coverage on Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a report on Friday, May 30th. Robert W. Baird raised their price target on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Vertical Research started coverage on Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target on the stock. Finally, KeyCorp raised their price target on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.86.

Nordson Trading Up 0.8%

NDSN traded up $1.69 on Friday, hitting $220.84. The company had a trading volume of 241,571 shares, compared to its average volume of 301,057. The company has a market cap of $12.48 billion, a PE ratio of 28.39, a PEG ratio of 1.70 and a beta of 0.89. Nordson Corporation has a 12-month low of $165.03 and a 12-month 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 business's fifty day simple moving average is $213.66 and its 200 day simple moving average is $206.64.

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

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a $0.78 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.41%. Nordson's dividend payout ratio is currently 40.10%.

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.