Metropolitan Life Insurance Co NY Sells 6,941 Shares of Nordson Co. (NASDAQ:NDSN)

Metropolitan Life Insurance Co NY decreased its holdings in shares of Nordson Co. (NASDAQ:NDSNGet Rating) by 68.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,272 shares of the industrial products company’s stock after selling 6,941 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Nordson were worth $743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Creative Financial Designs Inc. ADV increased its stake in Nordson by 3.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,942 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 62 shares during the period. Koshinski Asset Management Inc. increased its stake in Nordson by 10.3% in the 1st quarter. Koshinski Asset Management Inc. now owns 719 shares of the industrial products company’s stock worth $163,000 after buying an additional 67 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Nordson by 24.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 341 shares of the industrial products company’s stock valued at $77,000 after buying an additional 68 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Nordson by 17.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 468 shares of the industrial products company’s stock valued at $118,000 after buying an additional 69 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake in Nordson by 3.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,760 shares of the industrial products company’s stock worth $627,000 after acquiring an additional 80 shares in the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Trading Down 1.1 %

Shares of NASDAQ:NDSN opened at $223.74 on Monday. The company has a market capitalization of $12.80 billion, a PE ratio of 27.09, a P/E/G ratio of 1.85 and a beta of 0.95. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. Nordson Co. has a 12-month low of $194.89 and a 12-month high of $272.28. The business’s fifty day simple moving average is $222.47 and its 200-day simple moving average is $219.71.

Nordson (NASDAQ:NDSNGet Rating) last posted its earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.05. The company had revenue of $662.13 million for the quarter, compared to analyst estimates of $650.90 million. Nordson had a return on equity of 23.66% and a net margin of 19.25%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 earnings per share. As a group, equities research analysts predict that Nordson Co. will post 9.33 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, August 22nd. This is an increase from Nordson’s previous quarterly dividend of $0.51. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.16%. Nordson’s dividend payout ratio is presently 31.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NDSN shares. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird increased their price target on Nordson from $232.00 to $271.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. DA Davidson raised their price target on Nordson from $265.00 to $270.00 in a research note on Tuesday, August 23rd. Finally, Morgan Stanley lowered their price objective on shares of Nordson from $270.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $270.20.

Nordson Company Profile

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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).

See Also

Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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