Shell Asset Management Co. reduced its position in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,364 shares of the industrial products company’s stock after selling 206 shares during the period. Shell Asset Management Co.’s holdings in Nordson were worth $764,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Confluence Wealth Services Inc. acquired a new position in Nordson during the fourth quarter valued at approximately $29,000. Artemis Wealth Advisors LLC acquired a new position in Nordson during the first quarter valued at approximately $36,000. Covestor Ltd acquired a new position in Nordson during the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new position in Nordson during the fourth quarter valued at approximately $43,000. Finally, Castleview Partners LLC acquired a new position in Nordson during the fourth quarter valued at approximately $55,000. 81.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NDSN has been the subject of several recent research reports. Robert W. Baird reduced their price target on Nordson from $266.00 to $243.00 and set an “outperform” rating for the company in a research report on Wednesday, May 25th. Morgan Stanley cut their price objective on Nordson from $270.00 to $250.00 and set an “equal weight” rating for the company in a research report on Thursday, June 9th. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research report on Saturday, July 16th. Finally, DA Davidson cut their price objective on Nordson from $300.00 to $265.00 in a research report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $263.60.
Nordson Stock Performance
Nordson (NASDAQ:NDSN – Get Rating) last announced its earnings results on Monday, May 23rd. The industrial products company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.16. The company had revenue of $635.40 million for the quarter, compared to analyst estimates of $644.90 million. Nordson had a return on equity of 23.93% and a net margin of 19.38%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. On average, equities research analysts expect that Nordson Co. will post 9.32 earnings per share for the current year.
Nordson Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 7th. Stockholders of record on Tuesday, May 24th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, May 23rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.88%. Nordson’s dividend payout ratio (DPR) is currently 24.79%.
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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).
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