Seven Eight Capital LP Takes Position in Nordson Co. (NASDAQ:NDSN)

Seven Eight Capital LP acquired a new position in shares of Nordson Co. (NASDAQ:NDSN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,319 shares of the industrial products company’s stock, valued at approximately $1,002,000.

A number of other institutional investors also recently bought and sold shares of NDSN. Norges Bank purchased a new position in shares of Nordson during the 4th quarter worth $158,948,000. Public Employees Retirement Association of Colorado increased its position in shares of Nordson by 1,579.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after acquiring an additional 326,690 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nordson by 289.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after acquiring an additional 193,421 shares during the period. Swedbank AB purchased a new position in shares of Nordson during the 1st quarter worth approximately $48,044,000. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 174,330 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Stock Down 1.7 %

Shares of NASDAQ:NDSN opened at $255.58 on Friday. 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 Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The firm’s 50 day moving average price is $245.33 and its 200 day moving average price is $250.04.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data 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. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same period in the prior year, the firm posted $2.35 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities 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 declared 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 represents a $3.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 27th. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Wall Street Analysts Forecast Growth

NDSN has been the topic of a number of research reports. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Robert W. Baird raised their target price on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $282.40.

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.