Principal Financial Group Inc. decreased its holdings in Nordson Co. (NASDAQ:NDSN) by 0.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 725,572 shares of the industrial products company’s stock after selling 658 shares during the quarter. Principal Financial Group Inc.’s holdings in Nordson were worth $98,925,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC raised its stake in Nordson by 972.7% in the 4th quarter. Advisory Services Network LLC now owns 1,062 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 963 shares in the last quarter. CI Global Investments Inc. raised its stake in Nordson by 1,721.4% in the 1st quarter. CI Global Investments Inc. now owns 1,275 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 1,205 shares in the last quarter. Sapphire Star Partners LP acquired a new stake in Nordson in the 4th quarter worth about $212,000. Sequoia Financial Advisors LLC acquired a new stake in Nordson in the 4th quarter worth about $213,000. Finally, MML Investors Services LLC acquired a new stake in Nordson in the 4th quarter worth about $214,000. Institutional investors and hedge funds own 66.41% of the company’s stock.
Several brokerages have weighed in on NDSN. Wellington Shields cut shares of Nordson from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, May 23rd. B. Riley dropped their price objective on shares of Nordson from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. Wells Fargo & Co set a $135.00 price objective on shares of Nordson and gave the stock a “hold” rating in a research note on Wednesday, May 23rd. Seaport Global Securities cut shares of Nordson from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 22nd. Finally, Zacks Investment Research upgraded shares of Nordson from a “hold” rating to a “buy” rating and set a $148.00 target price for the company in a research report on Wednesday, May 16th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $153.60.
Shares of Nordson opened at $131.63 on Friday, MarketBeat.com reports. The company has a market capitalization of $7.64 billion, a PE ratio of 24.51, a PEG ratio of 1.68 and a beta of 1.27. The company has a quick ratio of 1.31, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. Nordson Co. has a 12 month low of $107.16 and a 12 month high of $151.84.
Nordson (NASDAQ:NDSN) last issued its earnings results on Monday, May 21st. The industrial products company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $553.70 million during the quarter, compared to analysts’ expectations of $551.98 million. Nordson had a net margin of 16.63% and a return on equity of 28.97%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 EPS. research analysts expect that Nordson Co. will post 6.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Tuesday, May 29th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, May 25th. Nordson’s payout ratio is presently 22.35%.
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.
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