Nordson Co. (NASDAQ:NDSN) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 66.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,038 shares of the industrial products company’s stock after purchasing an additional 811 shares during the quarter. Public Sector Pension Investment Board’s holdings in Nordson were worth $473,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NDSN. Ashton Thomas Private Wealth LLC purchased a new stake in Nordson in the second quarter valued at approximately $27,000. Tortoise Investment Management LLC grew its stake in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after buying an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nordson in the 2nd quarter worth $46,000. Headlands Technologies LLC acquired a new position in Nordson in the first quarter valued at $55,000. Finally, UMB Bank n.a. grew 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 period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price objective on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.00.

Nordson Trading Down 2.0 %

NASDAQ:NDSN opened at $255.31 on Friday. Nordson Co. has a 12 month low of $208.91 and a 12 month high of $279.38. The business’s 50-day moving average is $248.89 and its two-hundred day moving average is $249.61. 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 $14.62 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.06 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. The firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. Nordson’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. Research analysts predict that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s payout ratio is currently 37.19%.

Nordson Company 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.