New York Life Investment Management LLC Decreases Stock Holdings in Nordson Co. (NASDAQ:NDSN)

New York Life Investment Management LLC lowered its position in Nordson Co. (NASDAQ:NDSN) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,718 shares of the industrial products company’s stock after selling 51 shares during the period. New York Life Investment Management LLC’s holdings in Nordson were worth $2,039,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Nordson by 21.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 21,011 shares of the industrial products company’s stock valued at $4,689,000 after purchasing an additional 3,652 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Nordson by 78.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,821 shares of the industrial products company’s stock valued at $1,299,000 after buying an additional 2,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Nordson by 5.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,337 shares of the industrial products company’s stock worth $2,084,000 after acquiring an additional 504 shares in the last quarter. Forsta AP Fonden purchased a new stake in shares of Nordson during the third quarter worth about $2,589,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nordson by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,715 shares of the industrial products company’s stock valued at $5,516,000 after acquiring an additional 307 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 1.9 %

Shares of NDSN stock opened at $270.65 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. Nordson Co. has a twelve month low of $208.90 and a twelve month high of $278.00. The stock has a 50 day moving average of $265.89 and a 200 day moving average of $252.26. The stock has a market cap of $15.48 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.00 and a beta of 1.00.

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

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a yield of 1.00%. Nordson’s dividend payout ratio is currently 31.81%.

Wall Street Analysts Forecast Growth

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