Kayne Anderson Rudnick Investment Management LLC Purchases 68,810 Shares of Nordson Co. (NASDAQ:NDSN)

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Nordson Co. (NASDAQ:NDSN) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,591,323 shares of the industrial products company’s stock after purchasing an additional 68,810 shares during the period. Nordson accounts for approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 16th biggest holding. Kayne Anderson Rudnick Investment Management LLC’s holdings in Nordson were worth $601,032,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ensign Peak Advisors Inc raised its stake in Nordson by 8.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 18,161 shares of the industrial products company’s stock worth $4,212,000 after purchasing an additional 1,360 shares in the last quarter. Sei Investments Co. raised its position in shares of Nordson by 1.3% in the second quarter. Sei Investments Co. now owns 54,863 shares of the industrial products company’s stock valued at $12,726,000 after buying an additional 695 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Nordson by 49.0% in the second quarter. Pacer Advisors Inc. now owns 14,736 shares of the industrial products company’s stock valued at $3,418,000 after buying an additional 4,845 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Nordson during the second quarter worth approximately $1,196,000. Finally, Seven Eight Capital LP bought a new position in Nordson during the 2nd quarter worth $1,002,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NDSN shares. StockNews.com downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Robert W. Baird upped 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.40.

Nordson Trading Down 1.7 %

Shares of NDSN opened at $255.58 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.00 and a beta of 0.90. The business’s fifty day moving average is $245.70 and its 200-day moving average is $249.98.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 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 firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. During the same quarter in the previous year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given 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 dividend payout ratio (DPR) 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.