Focus Financial Network Inc. Makes New Investment in Nordson Co. (NASDAQ:NDSN)

Focus Financial Network Inc. bought a new stake in Nordson Co. (NASDAQ:NDSN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 765 shares of the industrial products company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Nordson by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock worth $1,680,769,000 after purchasing an additional 52,443 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Nordson by 2.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock worth $601,032,000 after buying an additional 68,810 shares in the last quarter. Lazard Asset Management LLC lifted its position in Nordson by 10.4% during the 1st quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock worth $258,764,000 after buying an additional 88,966 shares in the last quarter. American Century Companies Inc. grew its holdings in Nordson by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after acquiring an additional 15,947 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Nordson by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after acquiring an additional 11,809 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $299.00.

Nordson Price Performance

Nordson stock opened at $247.56 on Tuesday. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.00 and a beta of 0.90. Nordson Co. has a 12-month low of $219.46 and a 12-month 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 business’s 50-day simple moving average is $253.72 and its 200 day simple moving average is $246.97.

Nordson (NASDAQ:NDSN) last issued its quarterly 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 net margin of 17.75% and a return on equity of 19.80%. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter in the previous year, the company earned $2.35 EPS. Nordson’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 1.26%. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is 38.00%.

Insider Transactions at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by corporate insiders.

Nordson 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.