Treasurer of the State of North Carolina lifted its stake in Nordson Co. (NASDAQ:NDSN – Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,718 shares of the industrial products company’s stock after buying an additional 160 shares during the period. Treasurer of the State of North Carolina’s holdings in Nordson were worth $5,716,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new stake in Nordson during the second quarter valued at approximately $31,000. Machina Capital S.A.S. acquired a new stake in Nordson in the 1st quarter valued at approximately $47,000. Belpointe Asset Management LLC bought a new position in Nordson during the 4th quarter valued at $58,000. Freedom Wealth Alliance LLC bought a new position in Nordson during the 4th quarter valued at $58,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Nordson by 115.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 340 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on NDSN shares. StockNews.com raised Nordson from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. KeyCorp raised their price objective on Nordson from $255.00 to $270.00 in a research note on Thursday, June 22nd. Robert W. Baird increased their target price on Nordson from $241.00 to $251.00 in a report on Wednesday, May 24th. Finally, Wells Fargo & Company increased their target price on Nordson from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th.
Insider Buying and Selling at Nordson
Nordson Price Performance
Shares of NASDAQ:NDSN opened at $246.42 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. Nordson Co. has a 1 year low of $202.57 and a 1 year high of $253.40. The business has a fifty day simple moving average of $240.08 and a 200 day simple moving average of $228.67. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 2.09 and a beta of 0.94.
Nordson (NASDAQ:NDSN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 23rd. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The business had revenue of $650.17 million during the quarter, compared to analyst estimates of $638.87 million. During the same period last year, the company earned $2.43 earnings per share. Nordson’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Nordson Co. will post 9.06 earnings per share for the current fiscal year.
Nordson Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, May 22nd. This represents a $2.60 annualized dividend and a yield of 1.06%. Nordson’s dividend payout ratio (DPR) is currently 29.18%.
Nordson Company Profile
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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