Confluence Investment Management LLC Makes New Investment in Nordson Co. (NASDAQ:NDSN)

Confluence Investment Management LLC bought a new position in shares of Nordson Co. (NASDAQ:NDSNFree Report) in the first quarter, HoldingsChannel reports. The firm bought 156,241 shares of the industrial products company’s stock, valued at approximately $42,894,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. Atria Wealth Solutions Inc. raised its position in shares of Nordson by 21.0% in the third quarter. Atria Wealth Solutions Inc. now owns 2,216 shares of the industrial products company’s stock valued at $495,000 after buying an additional 384 shares during the last quarter. Deutsche Bank AG raised its position in shares of Nordson by 11.4% in the third quarter. Deutsche Bank AG now owns 178,988 shares of the industrial products company’s stock valued at $39,945,000 after buying an additional 18,291 shares during the last quarter. Rhumbline Advisers raised its position in shares of Nordson by 0.9% in the third quarter. Rhumbline Advisers now owns 110,597 shares of the industrial products company’s stock valued at $24,682,000 after buying an additional 998 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Nordson by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 10,525 shares of the industrial products company’s stock valued at $2,349,000 after buying an additional 136 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of Nordson by 17.7% in the third quarter. Kestra Advisory Services LLC now owns 7,189 shares of the industrial products company’s stock valued at $1,604,000 after buying an additional 1,079 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Robert W. Baird lowered their target price on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. DA Davidson lowered their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, KeyCorp restated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $277.83.

View Our Latest Stock Report on Nordson

Nordson Trading Up 0.5 %

NDSN traded up $1.17 during trading on Tuesday, hitting $233.24. 118,737 shares of the company’s stock were exchanged, compared to its average volume of 230,423. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. Nordson Co. has a 1 year low of $208.91 and a 1 year high of $279.38. The stock has a 50 day moving average price of $252.90 and a 200 day moving average price of $256.89. The firm has a market cap of $13.36 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.85 and a beta of 0.94.

Nordson (NASDAQ:NDSNGet Free Report) last released its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.04. The company had revenue of $650.64 million during the quarter, compared to the consensus estimate of $661.06 million. Nordson had a net margin of 18.23% and a return on equity of 20.20%. Nordson’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. As a group, analysts expect that Nordson Co. will post 9.52 EPS for the current fiscal year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 annualized dividend and a dividend yield of 1.17%. Nordson’s dividend payout ratio (DPR) is presently 32.42%.

Nordson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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