D. E. Shaw & Co. Inc. Raises Position in Nordson Co. (NASDAQ:NDSN)

D. E. Shaw & Co. Inc. raised its stake in shares of Nordson Co. (NASDAQ:NDSN) by 188.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,213 shares of the industrial products company’s stock after purchasing an additional 7,323 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Nordson were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Deutsche Bank AG raised its position in Nordson by 17.2% during the fourth quarter. Deutsche Bank AG now owns 240,823 shares of the industrial products company’s stock valued at $50,390,000 after purchasing an additional 35,325 shares during the period. Crestline Management LP purchased a new stake in Nordson during the fourth quarter valued at approximately $587,000. Cetera Investment Advisers raised its position in Nordson by 6.1% during the fourth quarter. Cetera Investment Advisers now owns 16,469 shares of the industrial products company’s stock valued at $3,446,000 after purchasing an additional 946 shares during the period. Centiva Capital LP purchased a new stake in shares of Nordson in the fourth quarter worth approximately $496,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of Nordson in the fourth quarter worth approximately $1,165,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Stock Down 1.0%

Shares of NASDAQ:NDSN opened at $202.40 on Wednesday. Nordson Co. has a 52-week low of $165.03 and a 52-week high of $266.86. The stock has a market cap of $11.52 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The business’s 50 day moving average is $192.92 and its 200 day moving average is $214.74. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Sell-side analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.54%. Nordson’s dividend payout ratio (DPR) is presently 39.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and increased their price target for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. KeyCorp reduced their price target on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nordson has a consensus rating of “Moderate Buy” and a consensus price target of $250.20.

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.