Brown Advisory Inc. raised its stake in shares of Nordson Co. (NASDAQ:NDSN) by 21.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 242,872 shares of the industrial products company’s stock after acquiring an additional 43,199 shares during the period. Brown Advisory Inc.’s holdings in Nordson were worth $33,113,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Suntrust Banks Inc. grew its holdings in Nordson by 3.9% during the 1st quarter. Suntrust Banks Inc. now owns 23,293 shares of the industrial products company’s stock valued at $3,175,000 after buying an additional 864 shares in the last quarter. Amalgamated Bank grew its holdings in Nordson by 6.4% during the 1st quarter. Amalgamated Bank now owns 12,804 shares of the industrial products company’s stock valued at $1,746,000 after buying an additional 774 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Nordson during the 1st quarter valued at approximately $1,331,000. Catalyst Capital Advisors LLC purchased a new stake in Nordson during the 1st quarter valued at approximately $8,249,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Nordson by 45.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,730 shares of the industrial products company’s stock valued at $918,000 after buying an additional 2,100 shares in the last quarter. 66.24% of the stock is owned by institutional investors and hedge funds.
Nordson opened at $128.41 on Friday, MarketBeat Ratings reports. Nordson Co. has a fifty-two week low of $107.16 and a fifty-two week high of $151.84. The company has a quick ratio of 1.31, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $7.42 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27.
Nordson (NASDAQ:NDSN) last posted its earnings results on Monday, May 21st. The industrial products company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Nordson had a net margin of 16.63% and a return on equity of 28.97%. The firm had revenue of $553.70 million during the quarter, compared to analyst estimates of $551.98 million. During the same period last year, the firm posted $1.35 earnings per share. Nordson’s revenue for the quarter was up 11.6% compared to the same quarter last year. analysts predict that Nordson Co. will post 6.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Tuesday, May 29th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, May 25th. Nordson’s dividend payout ratio (DPR) is presently 22.35%.
A number of equities research analysts have issued reports on the stock. Wells Fargo & Co set a $135.00 price objective on shares of Nordson and gave the company a “hold” rating in a report on Wednesday, May 23rd. BidaskClub raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. ValuEngine raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Friday, April 13th. Wellington Shields lowered shares of Nordson from a “gradually accumulate” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, B. Riley cut their price objective on shares of Nordson from $175.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Nordson presently has an average rating of “Hold” and a consensus target price of $153.60.
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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