Skandinaviska Enskilda Banken AB publ Has $3.76 Million Holdings in Nordson Co. (NASDAQ:NDSN)

Skandinaviska Enskilda Banken AB publ reduced its holdings in Nordson Co. (NASDAQ:NDSN) by 64.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,196 shares of the industrial products company’s stock after selling 29,598 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Nordson were worth $3,759,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NDSN. UBS Group AG increased its stake in shares of Nordson by 14.8% in the fourth quarter. UBS Group AG now owns 162,870 shares of the industrial products company’s stock worth $43,024,000 after acquiring an additional 21,016 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Nordson by 5,590.7% in the 1st quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Nordson by 61.6% in the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after buying an additional 11,875 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in Nordson in the first quarter valued at approximately $1,562,000. Finally, Cetera Investment Advisers grew its position in Nordson by 422.3% in the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after acquiring an additional 11,625 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Performance

NASDAQ:NDSN opened at $255.58 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $245.70 and a 200 day moving average price of $249.79. The firm has a market capitalization of $14.64 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 17.75% and a return on equity of 19.80%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 EPS. Research analysts anticipate 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 issued a $0.78 dividend. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 annualized dividend and a yield of 1.22%. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on NDSN. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Robert W. Baird lifted their target price on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.