Allianz Asset Management GmbH Has $440,000 Stock Position in Nordson Corporation $NDSN

Allianz Asset Management GmbH reduced its position in Nordson Corporation (NASDAQ:NDSN) by 17.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,054 shares of the industrial products company’s stock after selling 427 shares during the period. Allianz Asset Management GmbH’s holdings in Nordson were worth $440,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in Nordson in the 1st quarter valued at about $28,000. Trust Co. of Toledo NA OH acquired a new stake in Nordson in the 2nd quarter valued at about $31,000. UMB Bank n.a. lifted its stake in Nordson by 96.3% in the 2nd quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. Harbour Investments Inc. lifted its stake in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 54 shares during the last quarter. Finally, National Pension Service lifted its position in Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 86 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. DA Davidson set a $285.00 price objective on shares of Nordson in a research report on Tuesday, October 21st. KeyCorp raised their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Jefferies Financial Group restated a “hold” rating and set a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Robert W. Baird raised their price objective on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.75.

Nordson Stock Up 1.0%

Shares of NDSN opened at $238.35 on Tuesday. The firm’s 50 day moving average is $227.77 and its 200-day moving average is $214.14. The stock has a market capitalization of $13.39 billion, a PE ratio of 29.94, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. The business had revenue of $646.86 million for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. Equities research analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

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

Insider Transactions at Nordson

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

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.