Azimuth Capital Management LLC Raises Stake in Nordson Co. (NDSN)
Azimuth Capital Management LLC increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 66.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,310 shares of the industrial products company’s stock after acquiring an additional 2,920 shares during the quarter. Azimuth Capital Management LLC’s holdings in Nordson were worth $939,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Nordson by 18.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the industrial products company’s stock valued at $332,000 after buying an additional 398 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Nordson by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 324,962 shares of the industrial products company’s stock worth $41,727,000 after purchasing an additional 6,086 shares during the period. Janus Henderson Group PLC raised its position in shares of Nordson by 4.4% during the second quarter. Janus Henderson Group PLC now owns 1,021,793 shares of the industrial products company’s stock worth $131,208,000 after purchasing an additional 43,471 shares during the period. Sawtooth Solutions LLC acquired a new stake in shares of Nordson during the second quarter worth about $205,000. Finally, BlackRock Inc. raised its position in shares of Nordson by 2.3% during the second quarter. BlackRock Inc. now owns 4,518,527 shares of the industrial products company’s stock worth $580,225,000 after purchasing an additional 102,044 shares during the period. 69.17% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:NDSN opened at $138.13 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.16 and a debt-to-equity ratio of 1.07. The stock has a market cap of $8.00 billion, a P/E ratio of 25.72, a PEG ratio of 1.76 and a beta of 1.29. Nordson Co. has a 52-week low of $107.16 and a 52-week high of $151.84.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, August 20th. This is an increase from Nordson’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Nordson’s dividend payout ratio (DPR) is presently 78.21%.
A number of research firms have recently commented on NDSN. ValuEngine raised Nordson from a “hold” rating to a “buy” rating in a research report on Wednesday. BidaskClub raised Nordson from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered Nordson from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. DA Davidson set a $160.00 price target on Nordson and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, Wellington Shields lowered Nordson from a “gradually accumulate” rating to a “hold” rating in a research report on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $155.11.
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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.
Further Reading: Outstanding Shares
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