Creative Planning Boosts Position in Nordson Co. (NASDAQ:NDSN)

Creative Planning increased its stake in Nordson Co. (NASDAQ:NDSN) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,575 shares of the industrial products company’s stock after buying an additional 380 shares during the period. Creative Planning’s holdings in Nordson were worth $829,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in Nordson during the 2nd quarter valued at about $27,000. Tortoise Investment Management LLC increased its position in 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 during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Nordson during the 2nd quarter valued at about $46,000. Headlands Technologies LLC purchased a new position in Nordson during the 1st quarter valued at about $55,000. Finally, UMB Bank n.a. increased its position 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 valued at $46,000 after purchasing an additional 191 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their target price 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

Nordson Stock Up 1.2 %

Shares of Nordson stock opened at $256.62 on Friday. The firm’s 50 day moving average price is $250.05 and its 200-day moving average price is $249.10. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38. The company has a market cap of $14.67 billion, a P/E ratio of 31.26, a PEG ratio of 2.04 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 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. During the same quarter last year, the company earned $2.35 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that Nordson Co. will post 9.55 EPS for the current fiscal 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 issued 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 dividend yield of 1.22%. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 38.00%.

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.