Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Nordson Co. (NASDAQ:NDSN)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Nordson Co. (NASDAQ:NDSN) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,929 shares of the industrial products company’s stock after purchasing an additional 153 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nordson were worth $1,143,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NDSN. Atria Wealth Solutions Inc. boosted its stake in Nordson by 11.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,465 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 249 shares during the period. Van ECK Associates Corp grew its holdings in shares of Nordson by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 7,172 shares of the industrial products company’s stock worth $1,895,000 after buying an additional 257 shares during the last quarter. Natixis Advisors L.P. increased its position in Nordson by 8.9% in the 4th quarter. Natixis Advisors L.P. now owns 62,236 shares of the industrial products company’s stock valued at $16,440,000 after acquiring an additional 5,098 shares during the period. Sapient Capital LLC purchased a new stake in Nordson during the 4th quarter valued at approximately $848,000. Finally, TCG Advisory Services LLC acquired a new stake in Nordson during the 4th quarter worth approximately $358,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NDSN shares. StockNews.com downgraded Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Robert W. Baird raised their target price on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, DA Davidson dropped their price target on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.40.

Nordson Trading Up 0.5 %

Shares of NDSN stock opened at $256.56 on Monday. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The business’s fifty day moving average price is $239.15 and its 200 day moving average price is $251.37. The firm has a market capitalization of $14.67 billion, a PE ratio of 30.58, a P/E/G ratio of 2.07 and a beta of 0.91.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. During the same period in the prior year, the company posted $2.35 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is presently 37.19%.

About Nordson

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; Medical and Fluid Solutions; and Advanced Technology Solutions.