First Trust Advisors LP grew its stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 676.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 246,317 shares of the industrial products company's stock after acquiring an additional 214,594 shares during the quarter. First Trust Advisors LP owned about 0.43% of Nordson worth $51,539,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Forum Financial Management LP acquired a new position in shares of Nordson in the 4th quarter valued at about $204,000. CANADA LIFE ASSURANCE Co grew its stake in Nordson by 7.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 55,834 shares of the industrial products company's stock worth $11,678,000 after buying an additional 3,963 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Nordson by 2.9% in the 4th quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company's stock valued at $180,036,000 after acquiring an additional 24,030 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Nordson by 443.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 6,255 shares of the industrial products company's stock valued at $1,309,000 after acquiring an additional 5,103 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Nordson during the 4th quarter worth $372,000. 72.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on the company. KeyCorp cut their price objective on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. BNP Paribas lowered Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. Finally, Loop Capital raised shares of Nordson from a "hold" rating to a "buy" rating and increased their price objective for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $250.20.
View Our Latest Research Report on Nordson
Nordson Stock Up 0.6 %
NDSN stock traded up $1.07 during midday trading on Monday, hitting $189.29. 53,749 shares of the company's stock were exchanged, compared to its average volume of 300,877. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $198.13 and a 200-day moving average price of $221.24. Nordson Co. has a 12-month low of $165.03 and a 12-month high of $279.38.
Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.02). The company had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. On average, analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.
Nordson Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson's dividend payout ratio is presently 39.69%.
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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