Allspring Global Investments Holdings LLC Trims Stake in Nordson Corporation $NDSN

Allspring Global Investments Holdings LLC reduced its position in Nordson Corporation (NASDAQ:NDSN) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,280 shares of the industrial products company’s stock after selling 137 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Nordson were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. Wealth Enhancement Advisory Services LLC grew its stake in Nordson by 6.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company’s stock worth $981,000 after acquiring an additional 283 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Nordson by 100.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,721 shares of the industrial products company’s stock worth $347,000 after acquiring an additional 864 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Nordson by 5.9% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 3,320 shares of the industrial products company’s stock worth $670,000 after acquiring an additional 185 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Nordson by 12.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,074 shares of the industrial products company’s stock worth $2,019,000 after acquiring an additional 1,136 shares in the last quarter. Finally, St. Clair Advisors LLC bought a new position in Nordson in the 1st quarter worth about $1,944,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDSN has been the topic of a number of research analyst reports. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. Robert W. Baird increased their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Oppenheimer increased their price objective on shares of Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, August 25th. Finally, DA Davidson set a $285.00 price objective on shares of Nordson in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.75.

Nordson Trading Down 0.0%

NASDAQ:NDSN opened at $235.90 on Friday. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. The firm has a 50 day moving average of $227.28 and a 200 day moving average of $213.28. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.79 and a beta of 0.96.

Nordson (NASDAQ:NDSN) last posted its earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company had revenue of $646.86 million during the quarter. As a group, sell-side analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a $0.82 dividend. This is a positive change from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson’s dividend payout ratio (DPR) is 41.21%.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 2,300 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the transaction, the executive vice president owned 8,605 shares in the company, valued at $1,999,715.95. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by company insiders.

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.