Acadian Asset Management LLC Acquires Shares of 578 Nordson Co. (NASDAQ:NDSN)

Acadian Asset Management LLC bought a new position in Nordson Co. (NASDAQ:NDSN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 578 shares of the industrial products company’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Nordson in the fourth quarter valued at approximately $158,948,000. Public Employees Retirement Association of Colorado grew its stake in Nordson by 1,579.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after purchasing an additional 326,690 shares during the period. Swedbank AB bought a new position in Nordson in the 1st quarter valued at $48,044,000. Price T Rowe Associates Inc. MD increased its position in shares of Nordson by 237.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after purchasing an additional 174,330 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of Nordson during the 1st quarter worth $42,894,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 1.7 %

NDSN stock opened at $255.58 on Friday. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The firm has a market capitalization of $14.64 billion, a PE ratio of 30.46, a PEG ratio of 2.00 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. The stock has a 50-day simple moving average of $245.33 and a two-hundred day simple moving average of $250.04.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping 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 analyst estimates of $656.49 million. During the same quarter in the prior year, the firm posted $2.35 EPS. Nordson’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts predict that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.78 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 annualized dividend and a dividend yield of 1.22%. Nordson’s payout ratio is presently 37.19%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.40.

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.