Wells Fargo & Company MN raised its stake in Nordson Co. (NASDAQ:NDSN) by 8.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,050,902 shares of the industrial products company’s stock after purchasing an additional 80,587 shares during the quarter. Wells Fargo & Company MN owned 1.81% of Nordson worth $143,280,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NDSN. Schroder Investment Management Group lifted its position in Nordson by 75.1% in the fourth quarter. Schroder Investment Management Group now owns 484,365 shares of the industrial products company’s stock valued at $70,910,000 after purchasing an additional 207,792 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Nordson in the fourth quarter valued at approximately $17,035,000. Keybank National Association OH lifted its position in Nordson by 13.9% in the fourth quarter. Keybank National Association OH now owns 821,173 shares of the industrial products company’s stock valued at $120,220,000 after purchasing an additional 100,288 shares during the last quarter. Two Sigma Investments LP bought a new stake in Nordson in the fourth quarter valued at approximately $14,603,000. Finally, Renaissance Technologies LLC bought a new position in shares of Nordson during the fourth quarter valued at approximately $11,451,000. Hedge funds and other institutional investors own 66.11% of the company’s stock.
In related news, CEO Michael F. Hilton sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $137.11, for a total value of $6,855,500.00. Following the sale, the chief executive officer now directly owns 225,774 shares of the company’s stock, valued at $30,955,873.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Hilton sold 55,000 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $138.18, for a total value of $7,599,900.00. Following the completion of the sale, the chief executive officer now directly owns 241,274 shares in the company, valued at $33,339,241.32. The disclosure for this sale can be found here. 2.01% of the stock is owned by corporate insiders.
A number of brokerages recently commented on NDSN. BidaskClub downgraded Nordson from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. DA Davidson began coverage on Nordson in a report on Wednesday, February 21st. They set a “buy” rating and a $160.00 target price for the company. Wells Fargo restated a “market perform” rating and set a $140.00 target price (down previously from $155.00) on shares of Nordson in a report on Monday, February 26th. They noted that the move was a valuation call. ValuEngine upgraded Nordson from a “hold” rating to a “buy” rating in a report on Friday, April 13th. Finally, Robert W. Baird restated a “hold” rating and set a $157.00 target price on shares of Nordson in a report on Wednesday, April 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Nordson presently has a consensus rating of “Buy” and an average price target of $155.10.
Shares of NDSN stock opened at $134.96 on Monday. The firm has a market capitalization of $7.82 billion, a P/E ratio of 23.03, a PEG ratio of 1.59 and a beta of 1.29. Nordson Co. has a twelve month low of $107.16 and a twelve month high of $151.84. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.07 and a current ratio of 1.52.
Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.01. The company had revenue of $550.42 million for the quarter, compared to analysts’ expectations of $538.21 million. Nordson had a return on equity of 30.41% and a net margin of 15.85%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. equities analysts anticipate that Nordson Co. will post 6.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 29th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 25th. This represents a $1.20 annualized dividend and a yield of 0.89%. Nordson’s payout ratio is 22.35%.
Nordson Company Profile
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.
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