Cerity Partners LLC Invests $507,000 in Nordson Co. (NASDAQ:NDSN)

Cerity Partners LLC bought a new position in Nordson Co. (NASDAQ:NDSN) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,920 shares of the industrial products company’s stock, valued at approximately $507,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Nordson by 4.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,235,928 shares of the industrial products company’s stock worth $498,992,000 after buying an additional 88,095 shares during the period. Morgan Stanley boosted its holdings in Nordson by 9.2% in the third quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company’s stock valued at $310,534,000 after purchasing an additional 117,337 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Nordson by 53.4% in the third quarter. Lazard Asset Management LLC now owns 791,037 shares of the industrial products company’s stock valued at $176,534,000 after purchasing an additional 275,240 shares during the last quarter. Invesco Ltd. boosted its holdings in Nordson by 9.0% in the third quarter. Invesco Ltd. now owns 781,549 shares of the industrial products company’s stock valued at $174,418,000 after purchasing an additional 64,707 shares during the last quarter. Finally, FMR LLC boosted its holdings in Nordson by 4.3% in the third quarter. FMR LLC now owns 546,738 shares of the industrial products company’s stock valued at $122,015,000 after purchasing an additional 22,685 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Trading Down 0.8 %

Shares of NASDAQ NDSN opened at $260.06 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.19 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $266.63 and its two-hundred day moving average price is $249.87. The stock has a market capitalization of $14.87 billion, a P/E ratio of 30.42, a PEG ratio of 1.96 and a beta of 1.00. Nordson Co. has a 52-week low of $208.90 and a 52-week high of $278.00.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $630.77 million. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. On average, analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, February 16th. Nordson’s payout ratio is 31.81%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NDSN. KeyCorp reissued a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Wells Fargo & Company upped their price objective on Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, DA Davidson upped their price objective on Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.00.

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; Medical and Fluid Solutions; and Advanced Technology Solutions.