Scientech Research LLC Makes New Investment in Nordson Co. (NASDAQ:NDSN)

Scientech Research LLC purchased a new stake in shares of Nordson Co. (NASDAQ:NDSN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,155 shares of the industrial products company’s stock, valued at approximately $500,000.

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

Nordson Stock Performance

NASDAQ:NDSN opened at $261.66 on Monday. The stock has a 50-day simple moving average of $247.53 and a two-hundred day simple moving average of $249.56. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38. 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 market capitalization of $14.99 billion, a PE ratio of 31.19, a P/E/G ratio of 2.06 and a beta of 0.90.

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

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.19%. This is an increase 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 (DPR) is presently 37.19%.

Analyst Ratings Changes

Separately, 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.00.

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.