Nordea Investment Management AB Buys 54 Shares of Nordson Co. (NASDAQ:NDSN)

Posted by Defense World Staff on May 13th, 2023

Nordea Investment Management AB grew its stake in Nordson Co. (NASDAQ:NDSN – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,630 shares of the industrial products company’s stock after purchasing an additional 54 shares during the period. Nordea Investment Management AB’s holdings in Nordson were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. bought a new stake in shares of Nordson in the 2nd quarter valued at approximately $31,000. Asset Dedication LLC grew its stake in shares of Nordson by 1,258.3% in the 4th quarter. Asset Dedication LLC now owns 163 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 151 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Nordson by 33.1% in the 3rd quarter. Bessemer Group Inc. now owns 213 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 53 shares in the last quarter. Romano Brothers AND Company acquired a new position in shares of Nordson in the 4th quarter worth approximately $58,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Nordson in the 3rd quarter worth approximately $79,000. 70.40% of the stock is currently owned by institutional investors.

Nordson Stock Up 0.0 %

NASDAQ:NDSN opened at $216.31 on Friday. The stock’s fifty day moving average price is $214.95 and its two-hundred day moving average price is $227.72. Nordson Co. has a 52-week low of $194.89 and a 52-week high of $251.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.85 and a beta of 0.91.

Nordson (NASDAQ:NDSN – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.03). Nordson had a return on equity of 23.67% and a net margin of 19.18%. The firm had revenue of $610.48 million for the quarter, compared to analyst estimates of $625.87 million. During the same period in the prior year, the company posted $2.07 EPS. On average, analysts anticipate that Nordson Co. will post 9.04 EPS for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, May 22nd. Nordson’s dividend payout ratio (DPR) is currently 30.30%.

Insider Activity

In other news, EVP Jeffrey A. Pembroke sold 5,000 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $243.48, for a total value of $1,217,400.00. Following the transaction, the executive vice president now owns 17,600 shares of the company’s stock, valued at approximately $4,285,248. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reduced their target price on Nordson from $259.00 to $241.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. StockNews.com assumed coverage on Nordson in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Loop Capital reduced their target price on Nordson from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Tuesday, March 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $250.20.

Nordson Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.