Seven Eight Capital LP acquired a new position in shares of Nordson Co. (NASDAQ:NDSN – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,319 shares of the industrial products company’s stock, valued at approximately $1,002,000.
A number of other institutional investors also recently bought and sold shares of NDSN. Norges Bank purchased a new position in shares of Nordson during the 4th quarter worth $158,948,000. Public Employees Retirement Association of Colorado increased its position in shares of Nordson by 1,579.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after acquiring an additional 326,690 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nordson by 289.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after acquiring an additional 193,421 shares during the period. Swedbank AB purchased a new position in shares of Nordson during the 1st quarter worth approximately $48,044,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Nordson by 237.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after purchasing an additional 174,330 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.
Nordson Stock Down 1.7 %
Shares of NASDAQ:NDSN opened at $255.58 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. Nordson Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The firm’s 50 day moving average price is $245.33 and its 200 day moving average price is $250.04.
Nordson Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 27th. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 37.19%.
Wall Street Analysts Forecast Growth
NDSN has been the topic of a number of research reports. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Robert W. Baird raised their target price on 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $282.40.
Read Our Latest Stock Analysis on Nordson
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.
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