Thrive Wealth Management LLC Boosts Position in Nordson Co. (NASDAQ:NDSN)

Thrive Wealth Management LLC boosted its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,424 shares of the industrial products company’s stock after buying an additional 54 shares during the quarter. Thrive Wealth Management LLC’s holdings in Nordson were worth $374,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NDSN. Ashton Thomas Private Wealth LLC purchased a new position in Nordson during the 2nd quarter worth approximately $27,000. Tortoise Investment Management LLC increased its holdings in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 58 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nordson during the 2nd quarter valued at approximately $46,000. UMB Bank n.a. increased its holdings in shares of Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of Nordson by 11,450.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Price Performance

Nordson stock traded down $3.31 during trading on Friday, reaching $252.00. The company had a trading volume of 260,078 shares, compared to its average volume of 236,677. The firm’s 50-day simple moving average is $249.18 and its 200 day simple moving average is $249.65. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The firm has a market capitalization of $14.43 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.06 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.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (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 firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter last year, the company earned $2.35 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.24%. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their target price on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and four have issued 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 price target of $293.00.

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.