Nordson Corporation (NASDAQ:NDSN) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Nordson Corporation (NASDAQ:NDSN) by 2.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,417 shares of the industrial products company’s stock after acquiring an additional 67 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Nordson were worth $486,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Nordson by 6.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company’s stock worth $981,000 after buying an additional 283 shares during the period. Marshall Wace LLP acquired a new stake in Nordson during the fourth quarter valued at $372,000. Ossiam boosted its position in Nordson by 60.1% during the fourth quarter. Ossiam now owns 5,011 shares of the industrial products company’s stock valued at $1,049,000 after purchasing an additional 1,881 shares during the last quarter. Ritholtz Wealth Management boosted its position in Nordson by 16.5% during the first quarter. Ritholtz Wealth Management now owns 3,836 shares of the industrial products company’s stock valued at $774,000 after purchasing an additional 542 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Nordson by 27.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,220 shares of the industrial products company’s stock valued at $2,557,000 after purchasing an additional 2,638 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Price Performance

NASDAQ NDSN opened at $223.17 on Friday. Nordson Corporation has a twelve month low of $165.03 and a twelve month 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 $12.61 billion, a PE ratio of 28.69, a P/E/G ratio of 1.71 and a beta of 0.89. The stock has a 50-day simple moving average of $209.00 and a 200 day simple moving average of $205.97.

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

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.40%. Nordson’s dividend payout ratio is 40.10%.

Wall Street Analyst Weigh In

NDSN has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Vertical Research initiated coverage on Nordson in a research report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price objective for the company. Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective for the company in a research report on Friday, May 30th. KeyCorp reduced their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wall Street Zen cut Nordson from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and an average price target of $252.00.

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.