Nordson Co. (NASDAQ:NDSN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 64.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,851 shares of the industrial products company’s stock after selling 22,811 shares during the period. Intech Investment Management LLC’s holdings in Nordson were worth $3,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Tobam lifted its stake in Nordson by 2,275.0% in the fourth quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after buying an additional 91 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Nordson in the fourth quarter valued at about $26,000. Sound Income Strategies LLC acquired a new stake in shares of Nordson during the fourth quarter worth about $27,000. Fortitude Family Office LLC purchased a new position in shares of Nordson during the fourth quarter worth about $28,000. Finally, Smithfield Trust Co raised its stake in Nordson by 105.6% during the 3rd quarter. Smithfield Trust Co now owns 146 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

NDSN traded up $0.04 during midday trading on Monday, reaching $237.94. 222,100 shares of the company’s stock were exchanged, compared to its average volume of 229,658. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The stock has a market capitalization of $13.63 billion, a PE ratio of 28.36, a P/E/G ratio of 1.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.38. The business’s 50-day moving average price is $265.54 and its 200 day moving average price is $257.02.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. The business had revenue of $650.64 million during the quarter, compared to analysts’ expectations of $661.06 million. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.26 EPS. As a group, equities analysts anticipate that Nordson Co. will post 9.51 EPS for the current fiscal year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $0.68 per share. 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 is presently 32.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NDSN shares. Wells Fargo & Company lifted their target price on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. DA Davidson dropped their target price on Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Robert W. Baird decreased their target price on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Finally, StockNews.com upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $277.83.

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.