Axxcess Wealth Management LLC Has $607,000 Stake in Nordson Co. (NASDAQ:NDSN)

Axxcess Wealth Management LLC reduced its holdings in Nordson Co. (NASDAQ:NDSN) by 3.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,617 shares of the industrial products company’s stock after selling 97 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Nordson were worth $607,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new stake in Nordson in the 2nd quarter valued at approximately $27,000. Tortoise Investment Management LLC grew its stake 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 acquiring an additional 58 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Nordson in the second quarter worth $46,000. Headlands Technologies LLC bought a new position in Nordson during the first quarter worth $55,000. Finally, UMB Bank n.a. raised its stake 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 purchasing an additional 191 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Up 1.7 %

Shares of NDSN stock opened at $260.03 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The firm has a fifty day moving average of $244.83 and a 200-day moving average of $249.97. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS 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 firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter last year, the company earned $2.35 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast 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. This represents a $3.12 dividend on an annualized basis and a yield of 1.20%. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio is 37.19%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NDSN shares. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Robert W. Baird boosted 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Nordson has an average rating of “Moderate Buy” and an average target price 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.