Nordson Co. (NASDAQ:NDSN) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its position in Nordson Co. (NASDAQ:NDSN) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,081 shares of the industrial products company’s stock after purchasing an additional 830 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Nordson were worth $3,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Nordson by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock valued at $1,680,769,000 after acquiring an additional 52,443 shares during the period. Lazard Asset Management LLC lifted its position in Nordson by 10.4% during the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after purchasing an additional 88,966 shares during the period. American Century Companies Inc. boosted its holdings in Nordson by 2.7% in the second quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock valued at $139,624,000 after purchasing an additional 15,947 shares during the last quarter. Norges Bank acquired a new stake in Nordson during the 4th quarter worth about $158,948,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Nordson by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after buying an additional 11,809 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Up 0.2 %

Shares of NDSN opened at $255.61 on Thursday. The firm has a market cap of $14.64 billion, a P/E ratio of 30.47, a PEG ratio of 2.00 and a beta of 0.90. Nordson Co. has a 12 month low of $208.91 and a 12 month high of $279.38. The stock’s 50 day moving average is $244.32 and its two-hundred day moving average is $249.94. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

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. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Analysts predict 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 given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 27th. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is 37.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird upped their target price on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson decreased their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $282.40.

About Nordson

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.