Andra AP fonden Buys Shares of 9,800 Nordson Co. (NASDAQ:NDSN)

Andra AP fonden purchased a new position in shares of Nordson Co. (NASDAQ:NDSN) in the 2nd quarter, Holdings Channel reports. The firm purchased 9,800 shares of the industrial products company’s stock, valued at approximately $2,273,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Nordson by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock worth $1,680,769,000 after purchasing an additional 52,443 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Nordson by 10.4% in the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after buying an additional 88,966 shares during the period. Norges Bank bought a new position in Nordson in the 4th quarter valued at approximately $158,948,000. Bank of New York Mellon Corp boosted its position in Nordson by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock worth $113,689,000 after buying an additional 11,809 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Nordson by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 484,863 shares of the industrial products company’s stock worth $128,081,000 after acquiring an additional 4,416 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Price Performance

NDSN stock opened at $248.24 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.97 and a beta of 0.90. The company’s fifty day simple moving average is $242.67 and its 200 day simple moving average is $250.47. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38.

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

Nordson Increases Dividend

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

Wall Street Analyst Weigh In

NDSN has been the subject of several analyst reports. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. DA Davidson cut their target price on Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, 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 report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Nordson currently has an average rating of “Moderate Buy” and an average price target of $282.40.

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.