Nordson Co. (NASDAQ:NDSN) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 28.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,340 shares of the industrial products company’s stock after acquiring an additional 1,411 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nordson were worth $1,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NDSN. Bessemer Group Inc. increased its position in shares of Nordson by 5,590.7% in the first quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Nordson by 61.6% during the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after acquiring an additional 11,875 shares during the period. Mediolanum International Funds Ltd purchased a new position in Nordson during the first quarter valued at $1,562,000. Cetera Investment Advisers lifted its holdings in Nordson by 422.3% during the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock valued at $3,947,000 after purchasing an additional 11,625 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Nordson by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 123,965 shares of the industrial products company’s stock worth $34,033,000 after purchasing an additional 3,969 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

Nordson Price Performance

Nordson stock opened at $253.35 on Tuesday. The company has a fifty day simple moving average of $252.29 and a 200-day simple moving average of $248.23. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.04 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. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data 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. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter in the prior year, the company earned $2.35 EPS. Nordson’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The business 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 a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio is presently 37.19%.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Nordson presently has a consensus rating of “Moderate Buy” and an average price target of $299.00.

Nordson Company 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.