Wealth Alliance Sells 119 Shares of Nordson Co. (NASDAQ:NDSN)

Wealth Alliance cut its stake in shares of Nordson Co. (NASDAQ:NDSN) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,173 shares of the industrial products company’s stock after selling 119 shares during the quarter. Wealth Alliance’s holdings in Nordson were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in Nordson in the second quarter valued at about $27,000. Tortoise Investment Management LLC raised its holdings in Nordson by 70.7% in 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 during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Nordson during the 2nd quarter worth approximately $46,000. UMB Bank n.a. grew its holdings in Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 191 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in Nordson by 11,450.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 229 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. StockNews.com downgraded Nordson from a “buy” rating to a “hold” rating in a report 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 has an average rating of “Moderate Buy” and an average price target of $282.40.

Nordson Trading Down 1.7 %

NASDAQ:NDSN opened at $255.58 on Friday. Nordson Co. has a 52 week low of $208.91 and a 52 week high of $279.38. 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 fifty day moving average is $245.33 and its 200-day moving average is $250.04. The firm 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.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter in the prior year, the firm posted $2.35 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts expect 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 issued a $0.78 dividend. This is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, August 27th. Nordson’s payout ratio is presently 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.