Kayne Anderson Rudnick Investment Management LLC Has $601.03 Million Stake in Nordson Co. (NASDAQ:NDSN)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,591,323 shares of the industrial products company’s stock after purchasing an additional 68,810 shares during the quarter. Nordson accounts for about 1.5% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 16th biggest position. Kayne Anderson Rudnick Investment Management LLC owned about 4.52% of Nordson worth $601,032,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NDSN. Norges Bank bought a new position in Nordson during the 4th quarter worth about $158,948,000. Public Employees Retirement Association of Colorado raised its position in Nordson by 1,579.7% in the 4th 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 buying an additional 326,690 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Nordson by 289.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after acquiring an additional 193,421 shares in the last quarter. Swedbank AB acquired a new position in Nordson during the 1st quarter worth approximately $48,044,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Nordson by 237.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock worth $68,049,000 after acquiring an additional 174,330 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

NDSN has been the subject of a number of analyst reports. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Robert W. Baird raised their price objective on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $282.40.

Nordson Stock Performance

Shares of NDSN stock opened at $255.58 on Friday. The company has a fifty day moving average price of $245.70 and a two-hundred day moving average price of $249.98. Nordson Co. has a one year low of $208.91 and a one year high of $279.38. The stock has a market cap of $14.64 billion, a P/E ratio of 30.46, 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 current ratio of 2.36 and a quick ratio of 1.52.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.08. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. Nordson’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $2.35 EPS. As a group, equities analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, August 27th. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is 37.19%.

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.