Cambridge Investment Research Advisors Inc. acquired a new stake in Nordson Co. (NASDAQ:NDSN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,462 shares of the industrial products company’s stock, valued at approximately $459,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc boosted its holdings in Nordson by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 5,024,905 shares of the industrial products company’s stock valued at $697,959,000 after purchasing an additional 113,574 shares in the last quarter. BlackRock Inc. lifted its position in shares of Nordson by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,705,381 shares of the industrial products company’s stock valued at $561,588,000 after acquiring an additional 65,764 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Nordson by 6.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,423,478 shares of the industrial products company’s stock valued at $527,942,000 after acquiring an additional 279,766 shares during the period. Janus Henderson Group PLC lifted its position in shares of Nordson by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,223,886 shares of the industrial products company’s stock valued at $162,189,000 after acquiring an additional 17,044 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Nordson by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 875,191 shares of the industrial products company’s stock valued at $104,454,000 after acquiring an additional 13,699 shares during the period. 69.08% of the stock is currently owned by institutional investors.
NDSN stock opened at $130.12 on Friday. Nordson Co. has a 12-month low of $110.16 and a 12-month high of $149.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.16 and a quick ratio of 1.53. The company has a market cap of $7.48 billion, a PE ratio of 21.91, a P/E/G ratio of 1.71 and a beta of 1.19.
Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, May 20th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.06). Nordson had a return on equity of 22.46% and a net margin of 14.64%. The company had revenue of $551.00 million for the quarter, compared to analyst estimates of $558.34 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that Nordson Co. will post 6.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. Nordson’s dividend payout ratio is currently 23.57%.
In related news, VP Gina A. Beredo sold 700 shares of Nordson stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $137.26, for a total transaction of $96,082.00. Following the completion of the transaction, the vice president now directly owns 6,208 shares in the company, valued at approximately $852,110.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Hilton sold 6,000 shares of Nordson stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $128.06, for a total value of $768,360.00. Following the transaction, the chief executive officer now owns 224,455 shares of the company’s stock, valued at $28,743,707.30. The disclosure for this sale can be found here. Insiders have sold a total of 32,658 shares of company stock valued at $4,350,613 over the last 90 days. Insiders own 1.97% of the company’s stock.
NDSN has been the subject of a number of research reports. BidaskClub upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “hold” rating and set a $139.00 price target for the company in a research report on Monday, June 10th. ValuEngine downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, Oppenheimer lifted their price target on shares of Nordson from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $137.80.
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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