Handelsbanken Fonder AB Boosts Stock Position in Nordson Co. (NASDAQ:NDSN)

Handelsbanken Fonder AB raised its position in shares of Nordson Co. (NASDAQ:NDSN) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,630 shares of the industrial products company’s stock after buying an additional 2,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nordson were worth $3,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Nordson by 0.9% during the first 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 last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Nordson by 2.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after purchasing an additional 68,810 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Nordson by 10.4% during the 1st 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 last quarter. American Century Companies Inc. grew its stake in Nordson by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after buying an additional 15,947 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in 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 in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Down 1.0 %

NASDAQ:NDSN opened at $250.31 on Wednesday. The company has a market capitalization of $14.34 billion, a P/E ratio of 29.83, a PEG ratio of 2.06 and a beta of 0.90. 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. The firm has a fifty day simple moving average of $249.49 and a 200-day simple moving average of $249.11.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. The business had revenue of $661.60 million for 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 company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.35 earnings per share. On average, equities research analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is presently 37.19%.

Wall Street Analyst Weigh In

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