Nordson Co. (NASDAQ:NDSN) Shares Sold by abrdn plc

abrdn plc trimmed its position in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,178 shares of the industrial products company’s stock after selling 2,834 shares during the period. abrdn plc’s holdings in Nordson were worth $2,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NDSN. D.A. Davidson & CO. increased its holdings 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 last quarter. Panagora Asset Management Inc. increased its holdings in Nordson by 461.0% in the 1st quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock valued at $1,203,000 after purchasing an additional 4,352 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Nordson by 7.5% in the 1st quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 150 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Nordson in the 1st quarter valued at $219,000. Finally, Sei Investments Co. increased its holdings in Nordson by 2.1% in the 1st quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock valued at $10,615,000 after purchasing an additional 970 shares in the last quarter. 70.40% of the stock is currently owned by institutional investors and hedge funds.

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Nordson Stock Performance

Shares of NDSN stock opened at $219.58 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43. Nordson Co. has a one year low of $194.89 and a one year high of $251.26. The company’s 50-day simple moving average is $215.02 and its 200-day simple moving average is $227.52. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.84 and a beta of 0.91.

Nordson (NASDAQ:NDSN – Get Rating) last issued its quarterly earnings results on Monday, May 22nd. The industrial products company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. Nordson had a net margin of 19.75% and a return on equity of 22.84%. The business had revenue of $650.17 million for the quarter, compared to analysts’ expectations of $638.87 million. During the same quarter last year, the company posted $2.43 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Nordson Co. will post 9.04 earnings per share for the current fiscal year.

Nordson Announces Dividend

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 given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. Nordson’s payout ratio is 29.18%.

Analysts Set New Price Targets

Several analysts recently issued reports on NDSN shares. Robert W. Baird lowered their price target on Nordson from $259.00 to $241.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Loop Capital decreased their price objective on shares of Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Tuesday, March 21st. Finally, StockNews.com started coverage on shares of Nordson in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Nordson currently has a consensus rating of “Hold” and an average 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.

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