KLP Kapitalforvaltning AS Has $3.98 Million Holdings in Nordson Corporation $NDSN

KLP Kapitalforvaltning AS increased its holdings in Nordson Corporation (NASDAQ:NDSN) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,500 shares of the industrial products company’s stock after buying an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Nordson were worth $3,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after buying an additional 67 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Nordson by 18.7% in the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company’s stock valued at $535,000 after buying an additional 418 shares in the last quarter. Amalgamated Bank raised its position in shares of Nordson by 1.2% in the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company’s stock valued at $2,153,000 after buying an additional 127 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Nordson in the first quarter valued at approximately $1,599,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nordson by 4.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company’s stock valued at $51,088,000 after buying an additional 9,679 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NDSN has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research report on Wednesday. KeyCorp lifted their price objective on shares of Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They issued a “hold” rating and a $245.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.75.

Nordson Stock Performance

NASDAQ NDSN opened at $228.16 on Friday. The firm’s fifty day moving average price is $223.26 and its two-hundred day moving average price is $210.38. The stock has a market cap of $12.82 billion, a PE ratio of 28.66, a PEG ratio of 1.77 and a beta of 0.96. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69.

Nordson (NASDAQ:NDSN) last posted its earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The firm had revenue of $646.86 million for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. On average, equities analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a boost from Nordson’s previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.4%. Nordson’s payout ratio is presently 41.21%.

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.