Commonwealth Equity Services LLC Reduces Stake in Nordson Co. (NASDAQ:NDSN)

Commonwealth Equity Services LLC lessened its holdings in Nordson Co. (NASDAQ:NDSN) by 9.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,912 shares of the industrial products company’s stock after selling 1,291 shares during the period. Commonwealth Equity Services LLC’s holdings in Nordson were worth $2,763,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Nordson in the 2nd quarter valued at $46,000. UMB Bank n.a. lifted its stake in shares of Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in shares of Nordson by 11,450.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Nordson in the 1st quarter valued at $55,000. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of Nordson in the 1st quarter valued at $58,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Price Performance

NDSN stock opened at $247.93 on Thursday. 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 firm has a market capitalization of $14.20 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.97 and a beta of 0.90. The business’s 50-day moving average is $242.26 and its two-hundred day moving average is $250.49. Nordson Co. has a 1 year low of $208.91 and a 1 year high of $279.38.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. Nordson’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.26%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Analyst Upgrades and Downgrades

NDSN has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson decreased their target price on 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $282.40.

Nordson Company Profile

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.