Dai ichi Life Insurance Company Ltd Lowers Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Dai ichi Life Insurance Company Ltd lessened its stake in Nordson Co. (NASDAQ:NDSN) by 70.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,201 shares of the industrial products company’s stock after selling 10,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Nordson were worth $974,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NDSN. Advisory Services Network LLC lifted its holdings in shares of Nordson by 0.4% during the 4th quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock valued at $2,820,000 after acquiring an additional 40 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Nordson by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 11,976 shares of the industrial products company’s stock valued at $3,288,000 after buying an additional 40 shares during the last quarter. Everpar Advisors LLC grew its position in shares of Nordson by 2.1% during the 2nd quarter. Everpar Advisors LLC now owns 2,021 shares of the industrial products company’s stock valued at $469,000 after buying an additional 42 shares during the last quarter. Independent Advisor Alliance grew its position in Nordson by 2.3% in the 4th quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 45 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in Nordson by 0.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Up 0.6 %

Nordson stock opened at $253.37 on Tuesday. The firm has a market cap of $14.51 billion, a PE ratio of 30.20, a P/E/G ratio of 2.00 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 firm’s 50 day moving average price is $243.71 and its two-hundred day moving average price is $250.01. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38.

Nordson (NASDAQ:NDSN) last announced 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. The company 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%. Nordson’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 EPS. On average, research analysts predict that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $0.78 per share. This is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio is currently 37.19%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. DA Davidson decreased their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Robert W. Baird increased their target price 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. Finally, StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $282.40.

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.