Chevy Chase Trust Holdings LLC Has $5.74 Million Position in Nordson Corporation (NASDAQ:NDSN)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 28,442 shares of the industrial products company’s stock after selling 64 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Nordson were worth $5,737,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NDSN. Norges Bank acquired a new position in shares of Nordson during the fourth quarter valued at about $142,670,000. Raymond James Financial Inc. acquired a new position in shares of Nordson during the fourth quarter valued at about $74,005,000. First Trust Advisors LP raised its position in shares of Nordson by 676.5% during the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company’s stock valued at $51,539,000 after buying an additional 214,594 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Nordson by 19,089.3% during the first quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company’s stock valued at $28,606,000 after buying an additional 141,070 shares during the last quarter. Finally, FMR LLC raised its position in shares of Nordson by 19.2% during the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company’s stock valued at $145,135,000 after buying an additional 111,538 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NDSN. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Robert W. Baird increased their price target on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Wolfe Research began coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a “peer perform” rating for the company. KeyCorp dropped their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target for the company in a research report on Friday, May 30th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nordson has an average rating of “Moderate Buy” and an average price target of $252.00.

Nordson Stock Up 1.0%

Shares of NDSN opened at $214.91 on Friday. The company has a market capitalization of $12.14 billion, a P/E ratio of 27.62, a PEG ratio of 1.64 and a beta of 0.89. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The business’s 50 day simple moving average is $202.14 and its 200-day simple moving average is $206.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. Nordson’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 EPS. As a group, sell-side analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.45%. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

Nordson 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.