Wakefield Asset Management LLLP Buys New Position in Nordson Corporation (NASDAQ:NDSN)

Wakefield Asset Management LLLP acquired a new stake in Nordson Corporation (NASDAQ:NDSN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,253 shares of the industrial products company's stock, valued at approximately $253,000.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after acquiring an additional 89 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Nordson during the fourth quarter worth about $62,000. CX Institutional acquired a new stake in Nordson during the first quarter worth about $67,000. Canada Post Corp Registered Pension Plan acquired a new stake in Nordson during the fourth quarter worth about $92,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Nordson by 166.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 480 shares of the industrial products company's stock valued at $100,000 after purchasing an additional 300 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NDSN has been the topic of several research reports. Oppenheimer upgraded 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. Wolfe Research began coverage on Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating on the stock. Wall Street Zen downgraded Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. KeyCorp upped their target price on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Robert W. Baird boosted their target price on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.86.

Nordson Price Performance

NASDAQ NDSN traded up $1.69 on Friday, hitting $220.84. The stock had a trading volume of 241,571 shares, compared to its average volume of 380,241. The firm has a 50-day moving average of $213.66 and a 200-day moving average of $206.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. Nordson Corporation has a 52-week low of $165.03 and a 52-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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 EPS. Equities 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. Stockholders 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 dividend yield of 1.41%. Nordson's dividend payout ratio is presently 40.10%.

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.