Elevation Point Wealth Partners LLC Boosts Stake in Nordson Co. (NASDAQ:NDSN)

Elevation Point Wealth Partners LLC grew its position in shares of Nordson Co. (NASDAQ:NDSN) by 14.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,388 shares of the industrial products company’s stock after acquiring an additional 178 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Nordson were worth $280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 89 shares during the period. Tortoise Investment Management LLC grew its stake in shares of Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after buying an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nordson in the 4th quarter worth approximately $62,000. CX Institutional purchased a new stake in shares of Nordson in the 1st quarter worth approximately $67,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Nordson in the 4th quarter worth approximately $92,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Analyst Ratings Changes

NDSN has been the topic of several recent research reports. KeyCorp cut their price target on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded Nordson from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Robert W. Baird upped their price objective on Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Finally, BNP Paribas cut Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.17.

Nordson Stock Performance

Shares of NDSN opened at $218.39 on Tuesday. The firm has a market capitalization of $12.34 billion, a P/E ratio of 27.79, a PEG ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. Nordson Co. has a one year low of $165.03 and a one year high of $266.86. The business has a fifty day moving average of $197.45 and a 200 day moving average of $207.99.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. The company had revenue of $682.94 million during the quarter, compared to analysts’ expectations of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Nordson’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, sell-side analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

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.