Net Worth Advisory Group Purchases Shares of 991 Nordson Co. (NASDAQ:NDSN)

Net Worth Advisory Group bought a new stake in Nordson Co. (NASDAQ:NDSN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 991 shares of the industrial products company’s stock, valued at approximately $260,000.

Several other hedge funds also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Nordson in the second quarter valued at approximately $27,000. Tortoise Investment Management LLC lifted its stake in shares of 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 buying an additional 58 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Nordson during the 2nd quarter worth approximately $46,000. UMB Bank n.a. lifted its position in Nordson by 2,387.5% during the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Nordson in the 3rd quarter worth approximately $53,000. Institutional investors own 72.11% of the company’s stock.

Insider Activity

In other news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Nordson Price Performance

NASDAQ NDSN opened at $257.17 on Monday. The company has a market capitalization of $14.73 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The business’s fifty day moving average is $252.29 and its 200 day moving average is $248.41. Nordson Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating 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 business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. During the same period in the prior year, the business posted $2.35 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This is an increase from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.21%. Nordson’s dividend payout ratio (DPR) is 37.19%.

Analyst Ratings Changes

Separately, Robert W. Baird upped 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

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.