Cambridge Investment Research Advisors Inc. Has $2.95 Million Holdings in Nordson Co. (NASDAQ:NDSN)

Posted by Defense World Staff on May 14th, 2023

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,427 shares of the industrial products company’s stock after selling 83 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Nordson were worth $2,954,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NDSN. D.A. Davidson & CO. grew its position in shares of Nordson by 18.4% during the 1st quarter. D.A. Davidson & CO. now owns 947 shares of the industrial products company’s stock worth $215,000 after buying an additional 147 shares during the period. Panagora Asset Management Inc. grew its position in shares of Nordson by 461.0% during the 1st quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock worth $1,203,000 after buying an additional 4,352 shares during the period. Raymond James Trust N.A. boosted its stake in Nordson by 7.5% during the 1st quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 150 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Nordson during the 1st quarter worth approximately $219,000. Finally, Sei Investments Co. boosted its stake in Nordson by 2.1% during the 1st quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock worth $10,615,000 after acquiring an additional 970 shares during the last quarter. Institutional investors and hedge funds own 70.40% of the company’s stock.

Insider Activity

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

Nordson Price Performance

NASDAQ:NDSN opened at $216.31 on Friday. Nordson Co. has a one year low of $194.89 and a one year high of $251.26. The company has a market cap of $12.39 billion, a P/E ratio of 25.21, a P/E/G ratio of 1.85 and a beta of 0.91. The firm’s fifty day moving average price is $214.95 and its two-hundred day moving average price is $227.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 0.89.

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

Nordson Announces Dividend

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

Analysts Set New Price Targets

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

About Nordson

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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.