Cibc World Markets Corp Acquires 31,196 Shares of Nordson Co. (NASDAQ:NDSN)

Cibc World Markets Corp boosted its holdings in Nordson Co. (NASDAQ:NDSN) by 422.8% during the fourth quarter, Holdings Channel reports. The fund owned 38,575 shares of the industrial products company’s stock after purchasing an additional 31,196 shares during the period. Cibc World Markets Corp’s holdings in Nordson were worth $8,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NDSN. Creative Financial Designs Inc. ADV raised its position in shares of Nordson by 9.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,135 shares of the industrial products company’s stock valued at $656,000 after purchasing an additional 272 shares during the period. SlateStone Wealth LLC boosted its holdings in shares of Nordson by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 2,575 shares of the industrial products company’s stock worth $539,000 after buying an additional 100 shares during the period. Natixis Advisors LLC grew its stake in Nordson by 22.5% in the 4th quarter. Natixis Advisors LLC now owns 193,076 shares of the industrial products company’s stock valued at $40,399,000 after buying an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Nordson by 27.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,220 shares of the industrial products company’s stock valued at $2,557,000 after acquiring an additional 2,638 shares during the period. Finally, Impact Capital Partners LLC acquired a new stake in Nordson during the fourth quarter worth approximately $538,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Down 1.0 %

Shares of NASDAQ NDSN opened at $208.53 on Wednesday. The stock has a market capitalization of $11.87 billion, a P/E ratio of 26.53, a PEG ratio of 1.65 and a beta of 0.92. The stock’s fifty day moving average is $213.27 and its 200 day moving average is $234.56. Nordson Co. has a 52 week low of $196.83 and a 52 week high of $279.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Sell-side analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.50%. The ex-dividend date is Thursday, March 20th. Nordson’s payout ratio is presently 39.69%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NDSN shares. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. KeyCorp upgraded Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Tuesday, March 4th. Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and boosted their target price for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. Finally, DA Davidson dropped their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $256.20.

Insider Buying and Selling at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the transaction, the executive vice president now owns 7,347 shares of the company’s stock, valued at approximately $1,519,286.13. The trade was a 15.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

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.