Nordson Co. (NASDAQ:NDSN) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its holdings in Nordson Co. (NASDAQ:NDSN) by 10.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 964 shares of the industrial products company’s stock after buying an additional 93 shares during the quarter. Sound Income Strategies LLC’s holdings in Nordson were worth $195,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NDSN. MassMutual Private Wealth & Trust FSB boosted its stake in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 89 shares during the period. Tortoise Investment Management LLC boosted its stake in 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 purchasing an additional 115 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Nordson in the 4th quarter worth approximately $62,000. CX Institutional acquired a new position in Nordson in the 1st quarter worth approximately $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Nordson in the 4th quarter worth approximately $92,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Trading Up 1.9%

Shares of NASDAQ:NDSN opened at $218.39 on Tuesday. The firm has a fifty day moving average of $197.45 and a two-hundred day moving average of $207.99. The firm has a market capitalization of $12.34 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Nordson Co. has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.

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

Nordson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NDSN. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective for the company. in a research note on Monday, February 24th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective for the company in a research note on Friday, May 30th. Robert W. Baird lifted their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Finally, KeyCorp decreased their target price on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Three research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.17.

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.