Claro Advisors LLC Cuts Stake in Nordson Co. (NASDAQ:NDSN)

Claro Advisors LLC lessened its stake in Nordson Co. (NASDAQ:NDSN) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,611 shares of the industrial products company’s stock after selling 113 shares during the quarter. Claro Advisors LLC’s holdings in Nordson were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NDSN. Norges Bank bought a new stake in Nordson during the 4th quarter valued at about $158,948,000. Public Employees Retirement Association of Colorado raised its holdings in Nordson by 1,579.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock worth $91,762,000 after acquiring an additional 326,690 shares during the last quarter. Swedbank AB purchased a new position in Nordson in the 1st quarter worth approximately $48,044,000. Price T Rowe Associates Inc. MD lifted its position in Nordson by 237.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after acquiring an additional 174,330 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of Nordson in the 1st quarter worth $42,894,000. Institutional investors own 72.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird upped their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson reduced their price target on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $282.40.

Nordson Stock Performance

Shares of NDSN opened at $256.56 on Monday. Nordson Co. has a one year low of $208.91 and a one year high of $279.38. The business has a fifty day moving average of $239.15 and a 200 day moving average of $251.37. 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 $14.67 billion, a P/E ratio of 30.58, a PEG ratio of 2.07 and a beta of 0.91.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $656.49 million. During the same quarter last year, the company posted $2.35 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.78 per share. This is a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, August 27th. Nordson’s payout ratio is presently 37.19%.

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.