Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Skandinaviska Enskilda Banken AB publ decreased its holdings in Nordson Co. (NASDAQ:NDSN) by 64.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,196 shares of the industrial products company’s stock after selling 29,598 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Nordson were worth $3,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NDSN. Public Employees Retirement Association of Colorado increased its holdings in shares of Nordson by 1,579.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock worth $91,762,000 after buying an additional 326,690 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Nordson by 289.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock worth $60,377,000 after purchasing an additional 193,421 shares during the period. Swedbank AB acquired a new stake in Nordson during the 1st quarter worth approximately $48,044,000. Price T Rowe Associates Inc. MD lifted its position in Nordson by 237.1% during the first 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 buying an additional 174,330 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Nordson in the first quarter worth $42,894,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com lowered 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 research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and an average target price of $282.40.

Nordson Trading Down 1.7 %

Shares of NASDAQ NDSN opened at $255.58 on Monday. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The stock’s 50 day simple moving average is $245.70 and its 200 day simple moving average is $249.79. 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 Co. has a 12-month low of $208.91 and a 12-month high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data 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 return on equity of 19.80% and a net margin of 17.75%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.35 EPS. Equities research analysts expect that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, August 27th. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s payout ratio is currently 37.19%.

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.