Norges Bank Purchases New Shares in Nordson Co. (NASDAQ:NDSN)

Norges Bank acquired a new stake in Nordson Co. (NASDAQ:NDSN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 601,712 shares of the industrial products company’s stock, valued at approximately $158,948,000. Norges Bank owned about 1.05% of Nordson as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tobam grew its position in Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Nordson during the 4th quarter worth $26,000. Sound Income Strategies LLC bought a new position in shares of Nordson during the 4th quarter worth $27,000. Fortitude Family Office LLC bought a new position in shares of Nordson during the 4th quarter worth $28,000. Finally, Quent Capital LLC grew its position in shares of Nordson by 64.9% during the 4th quarter. Quent Capital LLC now owns 122 shares of the industrial products company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Trading Down 2.1 %

Shares of NASDAQ NDSN opened at $237.90 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.37. The stock has a market capitalization of $13.61 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The business has a fifty day moving average price of $266.04 and a 200 day moving average price of $256.41.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The company had revenue of $650.64 million during the quarter, compared to analysts’ expectations of $661.06 million. During the same period last year, the business posted $2.26 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Nordson Co. will post 9.49 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, May 20th. Nordson’s dividend payout ratio (DPR) is presently 32.42%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NDSN shares. Robert W. Baird dropped their price target on Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com raised Nordson from a “hold” rating to a “buy” rating in a research report on Monday. DA Davidson dropped their price target on Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company increased their price target on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, KeyCorp restated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.83.

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 worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.