DNB Asset Management AS Raises Stock Position in Nordson Co. (NASDAQ:NDSN)

DNB Asset Management AS boosted its position in shares of Nordson Co. (NASDAQ:NDSN) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,370 shares of the industrial products company’s stock after purchasing an additional 793 shares during the period. DNB Asset Management AS’s holdings in Nordson were worth $3,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Tobam raised its stake in shares of Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Nordson in the 1st quarter valued at approximately $55,000. Christopher J. Hasenberg Inc purchased a new stake in shares of Nordson in the 1st quarter valued at approximately $58,000. Crewe Advisors LLC acquired a new position in shares of Nordson in the first quarter valued at approximately $67,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of Nordson in the fourth quarter valued at approximately $88,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NDSN has been the subject of a number of research reports. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Robert W. Baird dropped their price objective on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Finally, DA Davidson dropped their price objective on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.40.

Nordson Stock Up 0.4 %

Shares of Nordson stock traded up $1.00 during trading hours on Tuesday, hitting $235.80. The company had a trading volume of 286,611 shares, compared to its average volume of 238,141. The company’s 50-day moving average is $233.69 and its two-hundred day moving average is $252.97. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.38. The company has a market cap of $13.50 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91.

Nordson (NASDAQ:NDSN) last issued its earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.04. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The business had revenue of $650.64 million during the quarter, compared to analysts’ expectations of $661.06 million. During the same quarter in the prior year, the business posted $2.26 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Analysts anticipate that Nordson Co. will post 9.52 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 annualized dividend and a yield of 1.15%. Nordson’s dividend payout ratio (DPR) 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.