Van ECK Associates Corp Purchases 257 Shares of Nordson Co. (NASDAQ:NDSN)

Van ECK Associates Corp raised its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,172 shares of the industrial products company’s stock after buying an additional 257 shares during the quarter. Van ECK Associates Corp’s holdings in Nordson were worth $1,895,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NDSN. Ieq Capital LLC boosted its holdings in shares of Nordson by 3.6% in the third quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock worth $308,000 after buying an additional 48 shares during the last quarter. Quent Capital LLC raised its holdings in Nordson by 64.9% in the 4th quarter. Quent Capital LLC now owns 122 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Glenmede Trust Co. NA grew its holdings in Nordson by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 1,766 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 51 shares during the period. Fifth Third Bancorp raised its stake in shares of Nordson by 5.5% in the third quarter. Fifth Third Bancorp now owns 992 shares of the industrial products company’s stock worth $221,000 after buying an additional 52 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Nordson by 5.4% during 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 in the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Stock Down 0.4 %

Shares of NDSN opened at $271.00 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. Nordson Co. has a 1 year low of $208.90 and a 1 year high of $278.00. The business’s 50 day simple moving average is $266.06 and its 200-day simple moving average is $252.78.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (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 for the quarter, compared to the consensus estimate of $630.77 million. During the same quarter in the prior year, the firm earned $1.95 earnings per share. Nordson’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Nordson Company 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.