Nordson Co. (NASDAQ:NDSN) Shares Purchased by Cerity Partners LLC

Posted by Defense World Staff on Sep 7th, 2023

Cerity Partners LLC raised its holdings in Nordson Co. (NASDAQ:NDSN – Free Report) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,869 shares of the industrial products company’s stock after purchasing an additional 353 shares during the quarter. Cerity Partners LLC’s holdings in Nordson were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Natixis Advisors L.P. boosted its holdings in Nordson by 46.6% in the first quarter. Natixis Advisors L.P. now owns 25,404 shares of the industrial products company’s stock valued at $5,646,000 after purchasing an additional 8,077 shares during the last quarter. American Century Companies Inc. boosted its holdings in Nordson by 0.5% in the first quarter. American Century Companies Inc. now owns 647,787 shares of the industrial products company’s stock valued at $143,977,000 after purchasing an additional 3,072 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Nordson by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 151,704 shares of the industrial products company’s stock valued at $33,718,000 after purchasing an additional 483 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Nordson in the first quarter valued at $194,000. Finally, Rhumbline Advisers boosted its stake in shares of Nordson by 2.4% during the 1st quarter. Rhumbline Advisers now owns 112,222 shares of the industrial products company’s stock worth $24,942,000 after acquiring an additional 2,599 shares in the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nordson

In other news, Director Mary G. Puma sold 2,099 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 16,835 shares in the company, valued at approximately $4,140,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Nordson Stock Down 0.4 %

NDSN stock opened at $239.55 on Thursday. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.10 and a beta of 0.94. The company has a current ratio of 2.23, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. Nordson Co. has a 12 month low of $202.57 and a 12 month high of $253.40. The firm has a 50-day moving average of $243.97 and a two-hundred day moving average of $228.45.

Nordson (NASDAQ:NDSN – Get Free Report) last released its quarterly earnings data on Tuesday, August 22nd. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.03. The company had revenue of $648.68 million during the quarter, compared to the consensus estimate of $664.94 million. Nordson had a net margin of 19.32% and a return on equity of 21.17%. Nordson’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.49 EPS. As a group, analysts forecast that Nordson Co. will post 8.97 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Nordson’s previous quarterly dividend of $0.65. Nordson’s dividend payout ratio (DPR) is currently 31.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NDSN shares. Robert W. Baird increased their target price on shares of Nordson from $251.00 to $253.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 23rd. StockNews.com started coverage on shares of Nordson in a research note on Thursday, August 17th. They set a “buy” rating on the stock. KeyCorp increased their target price on shares of Nordson from $255.00 to $270.00 in a research note on Thursday, June 22nd. Finally, Wells Fargo & Company increased their target price on shares of Nordson from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th.

Read Our Latest Stock Analysis on Nordson

About Nordson

(Free Report)

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS).