CANADA LIFE ASSURANCE Co Sells 1,565 Shares of Nordson Co. (NASDAQ:NDSN)

CANADA LIFE ASSURANCE Co trimmed its position in shares of Nordson Co. (NASDAQ:NDSN) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,190 shares of the industrial products company’s stock after selling 1,565 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.08% of Nordson worth $13,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Pointe Advisors LLC raised its holdings in shares of Nordson by 4.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock worth $782,000 after acquiring an additional 133 shares during the period. UBS Group AG raised its holdings in shares of Nordson by 14.8% during the fourth quarter. UBS Group AG now owns 162,870 shares of the industrial products company’s stock worth $43,024,000 after acquiring an additional 21,016 shares during the period. Assenagon Asset Management S.A. increased its stake in Nordson by 918.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 12,063 shares of the industrial products company’s stock valued at $3,187,000 after buying an additional 10,878 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Nordson in the 4th quarter valued at $1,192,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Nordson in the 1st quarter valued at $1,562,000. 72.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

NDSN has been the topic of several recent research reports. DA Davidson lowered their price target on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Robert W. Baird lowered their price target on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Finally, StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $279.40.

Nordson Stock Performance

Shares of NDSN traded up $5.17 during midday trading on Thursday, reaching $241.16. The stock had a trading volume of 133,869 shares, compared to its average volume of 231,538. The firm has a 50 day simple moving average of $234.90 and a 200-day simple moving average of $253.36. Nordson Co. has a one year low of $208.91 and a one year high of $279.38. The firm has a market cap of $13.81 billion, a PE ratio of 28.63, a P/E/G ratio of 1.94 and a beta of 0.91. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The company had revenue of $650.64 million during the quarter, compared to the consensus estimate of $661.06 million. During the same quarter last year, the firm posted $2.26 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Nordson Co. will post 9.52 EPS for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, May 20th. Nordson’s payout ratio is 32.42%.

Nordson Profile

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.