Nordson Co. (NASDAQ:NDSN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in shares of Nordson Co. (NASDAQ:NDSN) by 40.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,171 shares of the industrial products company’s stock after selling 3,501 shares during the period. Intech Investment Management LLC’s holdings in Nordson were worth $1,199,000 at the end of the most recent reporting period.

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

Nordson Stock Performance

NASDAQ:NDSN opened at $257.92 on Wednesday. The company’s 50-day moving average is $246.36 and its two-hundred day moving average is $249.65. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released 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 firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 EPS. Analysts forecast that Nordson Co. will post 9.55 EPS 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 given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is presently 37.19%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NDSN. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Nordson has an average rating of “Moderate Buy” and a consensus price target 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.