DekaBank Deutsche Girozentrale Cuts Stake in Nordson Co. (NASDAQ:NDSN)

DekaBank Deutsche Girozentrale lessened its stake in Nordson Co. (NASDAQ:NDSN) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,626 shares of the industrial products company’s stock after selling 1,611 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.09% of Nordson worth $12,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Ashton Thomas Private Wealth LLC purchased a new stake in Nordson in the 2nd quarter worth $27,000. Tortoise Investment Management LLC lifted its position in shares of Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after buying an additional 58 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Nordson during the second quarter valued at approximately $46,000. UMB Bank n.a. grew its holdings in Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after buying an additional 191 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its stake in Nordson by 11,450.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Trading Up 1.4 %

NDSN stock opened at $251.81 on Monday. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. 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’s fifty day simple moving average is $243.18 and its two-hundred day simple moving average is $250.10.

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

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $0.78 per share. 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 1.24%. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s payout ratio is presently 37.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NDSN shares. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. DA Davidson reduced their target price on shares of 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 increased their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nordson presently has a consensus rating of “Moderate Buy” and an average price target 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.