First Trust Direct Indexing L.P. Has $338,000 Holdings in Nordson Co. (NASDAQ:NDSN)

First Trust Direct Indexing L.P. raised its stake in Nordson Co. (NASDAQ:NDSN) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,286 shares of the industrial products company’s stock after acquiring an additional 149 shares during the period. First Trust Direct Indexing L.P.’s holdings in Nordson were worth $338,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Nordson by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock valued at $1,680,769,000 after purchasing an additional 52,443 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Nordson by 2.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after acquiring an additional 68,810 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Nordson by 10.4% in the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock worth $258,764,000 after acquiring an additional 88,966 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Nordson by 2.7% in the second quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after acquiring an additional 15,947 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Nordson by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock worth $113,689,000 after purchasing an additional 11,809 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Nordson Stock Down 0.6 %

Shares of NASDAQ:NDSN opened at $247.56 on Tuesday. 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 stock has a market cap of $14.16 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.00 and a beta of 0.90. The company has a 50 day moving average of $253.72 and a 200-day moving average of $246.97. Nordson Co. has a one year low of $219.46 and a one year high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating 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 business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. During the same period last year, the company posted $2.35 EPS. Nordson’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.26%. 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 payout ratio is presently 38.00%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird boosted their price objective on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.00.

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.