Nordson Co. (NASDAQ:NDSN) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA trimmed its position in shares of Nordson Co. (NASDAQ:NDSN – Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,216 shares of the industrial products company’s stock after selling 850 shares during the quarter. Pictet Asset Management SA’s holdings in Nordson were worth $5,827,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NDSN. Salem Investment Counselors Inc. purchased a new stake in shares of Nordson in the 2nd quarter worth about $31,000. Machina Capital S.A.S. purchased a new stake in shares of Nordson in the first quarter valued at about $47,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Nordson in the fourth quarter valued at approximately $58,000. Belpointe Asset Management LLC purchased a new position in shares of Nordson during the 4th quarter worth approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Nordson by 115.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 340 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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Nordson Stock Up 1.5 %

Shares of NASDAQ:NDSN opened at $239.27 on Thursday. The stock has a market capitalization of $13.64 billion, a P/E ratio of 27.57, a PEG ratio of 2.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.72 and a current ratio of 2.23. Nordson Co. has a 1 year low of $202.57 and a 1 year high of $253.40. The stock has a 50-day simple moving average of $243.12 and a 200-day simple moving average of $228.63.

Nordson (NASDAQ:NDSN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 22nd. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.03. The company had revenue of $648.68 million for the quarter, compared to analysts’ expectations of $664.94 million. Nordson had a return on equity of 21.17% and a net margin of 19.32%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 earnings per share. Equities analysts forecast that Nordson Co. will post 8.98 earnings per share for the current year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be given a $0.68 dividend. This is a boost from Nordson’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, August 21st. Nordson’s dividend payout ratio is presently 31.34%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NDSN. StockNews.com began coverage on Nordson in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Robert W. Baird lifted their price target on Nordson from $251.00 to $253.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp increased their price objective on shares of Nordson from $255.00 to $270.00 in a report on Thursday, June 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Nordson from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th.

Check Out Our Latest Research Report on NDSN

Insider Activity at Nordson

In other Nordson news, Director Mary G. Puma sold 2,099 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $245.92, for a total transaction of $516,186.08. Following the completion of the transaction, the director now directly owns 16,835 shares of the company’s stock, valued at approximately $4,140,063.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Nordson Company Profile

(Free Report)

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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