Asset Management One Co. Ltd. Raises Stake in Nordson Co. (NASDAQ:NDSN)

Asset Management One Co. Ltd. increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,606 shares of the industrial products company’s stock after acquiring an additional 800 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.07% of Nordson worth $10,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. First Trust Direct Indexing L.P. acquired a new position in Nordson in the 1st quarter valued at about $212,000. Mirae Asset Global Investments Co. Ltd. grew its position in Nordson by 0.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,527 shares of the industrial products company’s stock worth $4,755,000 after acquiring an additional 157 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Nordson by 159.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,265 shares of the industrial products company’s stock worth $896,000 after acquiring an additional 2,006 shares during the last quarter. Empirical Finance LLC raised its position in Nordson by 5.8% in the first quarter. Empirical Finance LLC now owns 1,226 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 67 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Nordson by 6.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,332 shares of the industrial products company’s stock valued at $1,738,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 4.3 %

Shares of NASDAQ NDSN opened at $264.36 on Thursday. Nordson Co. has a 52-week low of $219.46 and a 52-week high of $279.38. The business’s 50 day moving average is $253.48 and its two-hundred day moving average is $246.84. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 1.84 and a beta of 0.90. 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 (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.80% and a net margin of 17.75%. Nordson’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 EPS. Research analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The firm also recently announced 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 is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio is presently 38.00%.

Insider Buying and Selling at Nordson

In other news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the sale, the executive vice president now owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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 research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

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.