Bleakley Financial Group LLC Takes $209,000 Position in Nordson Co. (NASDAQ:NDSN)

Bleakley Financial Group LLC acquired a new position in Nordson Co. (NASDAQ:NDSN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 795 shares of the industrial products company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NDSN. Bessemer Group Inc. raised its stake in Nordson by 5,590.7% in the 1st quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock worth $1,343,000 after acquiring an additional 4,808 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Nordson by 61.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 11,875 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Nordson during the 1st quarter worth about $1,562,000. Cetera Investment Advisers grew its position in Nordson by 422.3% during the 1st quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after purchasing an additional 11,625 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Nordson by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 123,965 shares of the industrial products company’s stock worth $34,033,000 after purchasing an additional 3,969 shares during the period. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Performance

NASDAQ:NDSN opened at $248.89 on Friday. The company has a fifty day simple moving average of $253.41 and a two-hundred day simple moving average of $247.99. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. Nordson Co. has a 52 week low of $208.91 and a 52 week high of $279.38.

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

Nordson Increases Dividend

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

Analyst Ratings Changes

Separately, Robert W. Baird raised their target price on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Nordson has a consensus rating of “Moderate Buy” and an average target price of $299.00.

Insider Activity at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.86% of the stock is owned by insiders.

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.