Seven Eight Capital LP Purchases Shares of 4,319 Nordson Co. (NASDAQ:NDSN)

Seven Eight Capital LP bought a new position in Nordson Co. (NASDAQ:NDSN) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,319 shares of the industrial products company’s stock, valued at approximately $1,002,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in Nordson by 0.4% in the fourth quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock worth $2,820,000 after purchasing an additional 40 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Nordson by 0.3% during the first quarter. Retirement Systems of Alabama now owns 11,976 shares of the industrial products company’s stock valued at $3,288,000 after purchasing an additional 40 shares in the last quarter. Everpar Advisors LLC increased its holdings in shares of Nordson by 2.1% in the 2nd quarter. Everpar Advisors LLC now owns 2,021 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 42 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Nordson by 0.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 47 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Nordson by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 7,724 shares of the industrial products company’s stock worth $1,792,000 after acquiring an additional 49 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Price Performance

Shares of Nordson stock opened at $255.58 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The business has a 50 day simple moving average of $245.33 and a two-hundred day simple moving average of $250.04. The stock has a market capitalization of $14.64 billion, a P/E ratio of 30.46, 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.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. As a group, analysts predict that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. 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. Nordson’s dividend payout ratio (DPR) is 37.19%.

Analysts Set New Price Targets

Several research firms have weighed in on NDSN. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Robert W. Baird lifted their price objective on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Nordson has a consensus rating of “Moderate Buy” and a consensus price target of $282.40.

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.