Prospera Financial Services Inc acquired a new position in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 911 shares of the industrial products company’s stock, valued at approximately $207,000.
Several other hedge funds also recently added to or reduced their stakes in NDSN. Sequoia Financial Advisors LLC grew its holdings in Nordson by 483,474.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,026,331 shares of the industrial products company’s stock worth $1,793,611,000 after acquiring an additional 7,024,878 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nordson by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 848,630 shares of the industrial products company’s stock worth $216,367,000 after acquiring an additional 111,380 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Nordson by 5.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,977,605 shares of the industrial products company’s stock worth $504,826,000 after acquiring an additional 107,767 shares in the last quarter. State Street Corp boosted its holdings in shares of Nordson by 3.5% in the 4th quarter. State Street Corp now owns 2,072,090 shares of the industrial products company’s stock valued at $529,987,000 after buying an additional 69,469 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Nordson by 175.0% in the 4th quarter. Renaissance Technologies LLC now owns 92,714 shares of the industrial products company’s stock valued at $23,667,000 after buying an additional 59,000 shares during the period. 81.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NDSN has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Nordson from $270.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, June 9th. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Saturday, July 16th. Robert W. Baird decreased their price target on shares of Nordson from $266.00 to $243.00 and set an “outperform” rating for the company in a report on Wednesday, May 25th. Finally, DA Davidson decreased their price target on shares of Nordson from $300.00 to $265.00 in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.60.
Nordson Trading Up 1.1 %
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The industrial products company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.16. Nordson had a net margin of 19.38% and a return on equity of 23.93%. The company had revenue of $635.40 million for the quarter, compared to the consensus estimate of $644.90 million. During the same period in the previous year, the firm earned $2.12 EPS. Nordson’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Nordson Co. will post 9.32 earnings per share for the current year.
Nordson Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. Nordson’s dividend payout ratio (DPR) is 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).
- Get a free copy of the StockNews.com research report on Nordson (NDSN)
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