Victory Capital Management Inc. Sells 7,449 Shares of Nordson Co. (NASDAQ:NDSN)

Victory Capital Management Inc. trimmed its stake in shares of Nordson Co. (NASDAQ:NDSN) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,784 shares of the industrial products company’s stock after selling 7,449 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Nordson worth $8,068,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC raised its holdings in Nordson by 24.5% in the 4th quarter. Private Advisor Group LLC now owns 1,518 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 299 shares during the period. Principal Securities Inc. bought a new stake in Nordson in the 4th quarter valued at $106,000. Beacon Pointe Advisors LLC grew its holdings in Nordson by 4.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock valued at $782,000 after buying an additional 133 shares in the last quarter. Financial Advocates Investment Management bought a new position in Nordson during the 4th quarter worth $263,000. Finally, Independent Advisor Alliance lifted its holdings in shares of Nordson by 2.3% during the fourth quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock worth $524,000 after buying an additional 45 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Trading Up 1.4 %

Shares of NDSN stock opened at $251.81 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. Nordson Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38. The company has a market cap of $14.42 billion, a PE ratio of 30.01, a P/E/G ratio of 2.00 and a beta of 0.90. The stock’s fifty day moving average price is $243.18 and its two-hundred day moving average price is $250.10.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS 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 the consensus estimate of $656.49 million. During the same quarter in the previous year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict 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 was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 27th. This is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 1.24%. Nordson’s dividend payout ratio is 37.19%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. DA Davidson cut their price objective on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. StockNews.com downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird lifted their price objective on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.40.

Nordson 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.