Nordson Co. (NASDAQ:NDSN) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Nordson Co. (NASDAQ:NDSN) by 715.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,414 shares of the industrial products company’s stock after buying an additional 14,400 shares during the period. Renaissance Technologies LLC’s holdings in Nordson were worth $3,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NDSN. Ashton Thomas Private Wealth LLC acquired a new stake in Nordson in the 2nd quarter valued at $27,000. Tortoise Investment Management LLC grew its stake in Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 58 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Nordson during the 2nd quarter valued at about $46,000. Headlands Technologies LLC acquired a new stake in Nordson in the 1st quarter valued at about $55,000. Finally, UMB Bank n.a. lifted its stake in Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 191 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Price Performance

NDSN stock opened at $261.66 on Friday. The business has a 50 day moving average price of $247.53 and a 200 day moving average price of $249.66. Nordson Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38. 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 stock has a market cap of $14.99 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.06 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same period last year, the firm earned $2.35 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $0.78 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is presently 37.19%.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.00.

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.