Ritholtz Wealth Management Boosts Holdings in Nordson Corporation (NASDAQ:NDSN)

Ritholtz Wealth Management raised its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 16.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,836 shares of the industrial products company’s stock after buying an additional 542 shares during the period. Ritholtz Wealth Management’s holdings in Nordson were worth $774,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 89 shares in the last quarter. Tortoise Investment Management LLC grew its stake in shares of Nordson by 73.7% during the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 115 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Nordson during the 4th quarter valued at approximately $62,000. CX Institutional purchased a new stake in Nordson during the first quarter worth $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Nordson during the fourth quarter valued at $92,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 0.3%

Shares of NDSN opened at $213.53 on Thursday. The stock has a 50 day moving average price of $198.51 and a 200 day moving average price of $208.07. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.65 and a beta of 0.89.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The business had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. Equities research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson’s dividend payout ratio is currently 40.10%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NDSN shares. Robert W. Baird upped their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Oppenheimer upgraded Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research report on Friday, May 30th. Wolfe Research began coverage on Nordson in a report on Wednesday. They issued a “peer perform” rating on the stock. Vertical Research initiated coverage on Nordson in a research note on Tuesday. They set a “hold” rating and a $245.00 target price for the company. Finally, KeyCorp dropped their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.00.

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.