Caitong International Asset Management Co. Ltd Raises Stake in Nordson Corporation $NDSN

Caitong International Asset Management Co. Ltd raised its position in Nordson Corporation (NASDAQ:NDSN) by 640.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148 shares of the industrial products company’s stock after acquiring an additional 128 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Nordson were worth $32,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NDSN. Harbour Investments Inc. boosted its holdings in shares of Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 54 shares in the last quarter. Three Seasons Wealth LLC boosted its holdings in shares of Nordson by 3.0% in the 2nd quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company’s stock valued at $397,000 after buying an additional 54 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Nordson by 2.2% in the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock valued at $553,000 after buying an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after buying an additional 67 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Nordson by 0.6% in the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a report on Saturday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $240.00 target price on shares of Nordson in a report on Thursday, August 21st. Robert W. Baird lifted their target price on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.75.

Insider Transactions at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 2,300 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $232.39, for a total transaction of $534,497.00. Following the sale, the executive vice president directly owned 8,605 shares in the company, valued at approximately $1,999,715.95. The trade was a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Nordson Stock Performance

Shares of NDSN opened at $235.90 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The stock has a market capitalization of $13.26 billion, a P/E ratio of 29.64, a P/E/G ratio of 1.79 and a beta of 0.96. The company’s fifty day moving average is $227.28 and its two-hundred day moving average is $213.78. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86.

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

Nordson Increases Dividend

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

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.