Ashton Thomas Private Wealth LLC Buys Shares of 118 Nordson Co. (NASDAQ:NDSN)

Ashton Thomas Private Wealth LLC purchased a new position in Nordson Co. (NASDAQ:NDSN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 118 shares of the industrial products company’s stock, valued at approximately $27,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Nordson in the fourth quarter worth about $158,948,000. Public Employees Retirement Association of Colorado lifted its position in Nordson by 1,579.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after acquiring an additional 326,690 shares during the last quarter. Swedbank AB acquired a new stake in Nordson in the first quarter valued at approximately $48,044,000. Price T Rowe Associates Inc. MD grew its holdings in Nordson by 237.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock worth $68,049,000 after purchasing an additional 174,330 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new position in shares of Nordson during the first quarter worth $42,894,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Trading Up 0.7 %

Shares of NASDAQ:NDSN opened at $255.18 on Wednesday. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.00 and a beta of 0.90. 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 has a 50-day moving average price of $243.71 and a 200-day moving average price of $250.01.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. The company had revenue of $661.60 million during 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 revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.35 EPS. Equities analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The business also recently declared 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. This represents a $3.12 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. DA Davidson dropped their target price on Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their price objective on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.