Vest Financial LLC Has $61.98 Million Stock Holdings in Nordson Corporation $NDSN

Vest Financial LLC raised its position in Nordson Corporation (NASDAQ:NDSN) by 17.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,141 shares of the industrial products company’s stock after buying an additional 42,762 shares during the quarter. Nordson accounts for 0.9% of Vest Financial LLC’s holdings, making the stock its 23rd biggest holding. Vest Financial LLC’s holdings in Nordson were worth $61,983,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NDSN. Massachusetts Financial Services Co. MA grew its holdings in Nordson by 156.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company’s stock valued at $205,685,000 after buying an additional 621,734 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Nordson by 118.5% in the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company’s stock valued at $72,048,000 after buying an additional 182,305 shares in the last quarter. Nuveen LLC acquired a new position in Nordson in the 1st quarter valued at $29,125,000. Invesco Ltd. grew its holdings in Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after buying an additional 142,991 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Nordson in the 1st quarter valued at $25,827,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NDSN. Wolfe Research began coverage on Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating on the stock. Oppenheimer increased their target price on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. Vertical Research began coverage on Nordson in a report on Tuesday, June 17th. They set a “hold” rating and a $245.00 target price on the stock. KeyCorp increased their target price on Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $240.00 target price on shares of Nordson in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.75.

Nordson Stock Performance

NASDAQ:NDSN opened at $228.16 on Monday. The stock’s 50-day simple moving average is $223.26 and its 200 day simple moving average is $210.44. The firm has a market capitalization of $12.82 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The business had revenue of $646.86 million for the quarter. Nordson had a return on equity of 19.45% and a net margin of 16.34%. On average, analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.4%. This is a boost from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, September 11th. Nordson’s payout ratio is 41.21%.

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 worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.