NewEdge Advisors LLC Buys 5,021 Shares of Nordson Co. (NASDAQ:NDSN)

NewEdge Advisors LLC boosted its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 895.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,582 shares of the industrial products company's stock after acquiring an additional 5,021 shares during the quarter. NewEdge Advisors LLC's holdings in Nordson were worth $1,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Nordson in the fourth quarter valued at about $142,670,000. Raymond James Financial Inc. acquired a new stake in shares of Nordson in the fourth quarter valued at about $74,005,000. FMR LLC increased its stake in shares of Nordson by 19.2% in the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after buying an additional 111,538 shares during the period. Vanguard Group Inc. increased its stake in shares of Nordson by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company's stock valued at $1,302,887,000 after buying an additional 93,146 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Nordson by 23.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 397,924 shares of the industrial products company's stock valued at $83,262,000 after buying an additional 76,182 shares during the period. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Stock Up 0.4 %

Nordson stock traded up $0.81 during mid-day trading on Wednesday, reaching $189.57. The stock had a trading volume of 638,757 shares, compared to its average volume of 303,632. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. Nordson Co. has a fifty-two week low of $165.03 and a fifty-two week high of $279.38. The stock's 50-day simple moving average is $196.44 and its 200-day simple moving average is $220.33. The firm has a market capitalization of $10.79 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96.

Nordson (NASDAQ:NDSN - Get Free Report) last announced 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). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. On average, sell-side analysts forecast that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.65%. Nordson's dividend payout ratio (DPR) is presently 39.69%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NDSN shares. KeyCorp decreased their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Loop Capital raised Nordson from a "hold" rating to a "buy" rating and increased their price target for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, BNP Paribas cut Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target for the company. in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $250.20.

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.