abrdn plc Has $3.09 Million Stake in Nordson Co. (NASDAQ:NDSN)

abrdn plc increased its stake in shares of Nordson Co. (NASDAQ:NDSN) by 10.7% during the fourth quarter, HoldingsChannel reports. The fund owned 11,702 shares of the industrial products company’s stock after buying an additional 1,128 shares during the period. abrdn plc’s holdings in Nordson were worth $3,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ieq Capital LLC raised its holdings in shares of Nordson by 3.6% during the third quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 48 shares during the period. Quent Capital LLC raised its holdings in shares of Nordson by 64.9% during the fourth quarter. Quent Capital LLC now owns 122 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Nordson by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 1,766 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 51 shares during the period. Fifth Third Bancorp increased its stake in Nordson by 5.5% in the 3rd quarter. Fifth Third Bancorp now owns 992 shares of the industrial products company’s stock valued at $221,000 after buying an additional 52 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Nordson by 5.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,043 shares of the industrial products company’s stock valued at $233,000 after buying an additional 53 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on NDSN shares. Wells Fargo & Company lifted their price target on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. KeyCorp reiterated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, DA Davidson lifted their price target on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $278.00.

Nordson Stock Performance

Shares of NDSN opened at $260.40 on Monday. The firm has a 50-day moving average of $266.44 and a 200-day moving average of $250.51. Nordson Co. has a one year low of $208.90 and a one year high of $278.00. The company has a market cap of $14.89 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $630.77 million. During the same quarter last year, the firm posted $1.95 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s payout ratio is 31.81%.

Nordson Profile

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.