PNC Financial Services Group Inc. Purchases 610 Shares of Nordson Co. (NASDAQ:NDSN)

PNC Financial Services Group Inc. lifted its position in shares of Nordson Co. (NASDAQ:NDSN) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,794 shares of the industrial products company’s stock after purchasing an additional 610 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nordson were worth $2,677,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NDSN. New York Life Investment Management LLC increased its holdings in Nordson by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock worth $1,530,000 after purchasing an additional 49 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Nordson by 26.1% during the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after buying an additional 52 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in Nordson by 1.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock worth $692,000 after buying an additional 56 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Nordson by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company’s stock valued at $884,000 after buying an additional 58 shares during the last quarter. Finally, CFS Investment Advisory Services LLC lifted its stake in Nordson by 4.9% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 1,327 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NDSN shares. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and upped their target price for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $237.00 price objective (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. DA Davidson dropped their target price on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Baird R W lowered Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $256.20.

Nordson Trading Up 2.7 %

NASDAQ:NDSN opened at $207.40 on Friday. Nordson Co. has a 12 month low of $196.83 and a 12 month high of $279.38. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $213.13 and its 200 day moving average is $235.50. The stock has a market capitalization of $11.80 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. Sell-side analysts expect that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.50%. Nordson’s dividend payout ratio is presently 39.69%.

Insider Transactions at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the completion of the transaction, the executive vice president now directly owns 7,347 shares of the company’s stock, valued at $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.

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.