Nordson Corporation (NASDAQ:NDSN) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its position in Nordson Corporation (NASDAQ:NDSN) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,430 shares of the industrial products company’s stock after selling 2,147 shares during the period. Cerity Partners LLC’s holdings in Nordson were worth $2,306,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Allworth Financial LP boosted its position in shares of Nordson by 0.6% during the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 69 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Nordson by 2.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 54,237 shares of the industrial products company’s stock valued at $10,719,000 after purchasing an additional 1,495 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in shares of Nordson during the 1st quarter valued at about $585,000. HM Payson & Co. boosted its position in shares of Nordson by 37.5% during the 1st quarter. HM Payson & Co. now owns 660 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 180 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Nordson by 7.1% during the 1st quarter. IFM Investors Pty Ltd now owns 10,518 shares of the industrial products company’s stock valued at $2,122,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Down 0.2%

NDSN opened at $217.07 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The stock has a market cap of $12.27 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89. The stock’s fifty day simple moving average is $212.07 and its 200 day simple moving average is $206.19. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86.

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 the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. Nordson’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. As a group, research analysts expect that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.44%. Nordson’s dividend payout ratio is presently 40.10%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Wolfe Research assumed coverage on shares of Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating for the company. Vertical Research started coverage on shares of Nordson in a report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price target for the company. KeyCorp raised their price objective on shares of Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.86.

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.