LPL Financial LLC Buys 2,537 Shares of Nordson Co. (NASDAQ:NDSN)

LPL Financial LLC lifted its stake in shares of Nordson Co. (NASDAQ:NDSN) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,541 shares of the industrial products company’s stock after acquiring an additional 2,537 shares during the quarter. LPL Financial LLC’s holdings in Nordson were worth $5,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. bought a new position in shares of Nordson during the second quarter worth about $31,000. Machina Capital S.A.S. acquired a new position in shares of Nordson in the 1st quarter valued at about $47,000. Freedom Wealth Alliance LLC bought a new stake in shares of Nordson during the 4th quarter valued at about $58,000. Belpointe Asset Management LLC acquired a new stake in Nordson during the fourth quarter worth approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Nordson by 115.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 340 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 182 shares in the last quarter. 70.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NDSN has been the topic of a number of research analyst reports. KeyCorp increased their price target on Nordson from $255.00 to $270.00 in a report on Thursday, June 22nd. Robert W. Baird upped their price target on Nordson from $251.00 to $253.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company upped their price target on Nordson from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, StockNews.com began coverage on shares of Nordson in a report on Thursday, August 17th. They set a “buy” rating on the stock.

Insider Buying and Selling

In other news, Director Mary G. Puma sold 2,099 shares of Nordson stock in a transaction on Friday, July 14th. The stock was sold at an average price of $245.92, for a total value of $516,186.08. Following the completion of the transaction, the director now directly owns 16,835 shares in the company, valued at $4,140,063.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Nordson Stock Performance

Shares of NDSN stock opened at $244.14 on Friday. The firm has a 50-day moving average of $243.63 and a 200-day moving average of $228.57. The company has a market cap of $13.91 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.23 and a quick ratio of 1.39. Nordson Co. has a one year low of $202.57 and a one year high of $253.40.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Tuesday, August 22nd. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.03. The company had revenue of $648.68 million during the quarter, compared to the consensus estimate of $664.94 million. Nordson had a return on equity of 21.17% and a net margin of 19.32%. Nordson’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $2.49 earnings per share. Equities research analysts forecast that Nordson Co. will post 8.97 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, August 21st. This is an increase from Nordson’s previous quarterly dividend of $0.65. Nordson’s dividend payout ratio (DPR) is 31.34%.

About Nordson

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 (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS).