DekaBank Deutsche Girozentrale Trims Position in Nordson Corporation $NDSN

DekaBank Deutsche Girozentrale lessened its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 2.8% during the 2nd quarter, Holdings Channel reports. The fund owned 52,742 shares of the industrial products company’s stock after selling 1,495 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Nordson were worth $11,337,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Nordson during the 1st quarter worth $28,000. Trust Co. of Toledo NA OH purchased a new stake in Nordson in the 2nd quarter valued at about $31,000. UMB Bank n.a. raised its holdings in Nordson by 96.3% in the 2nd quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock valued at $35,000 after buying an additional 79 shares during the period. Harbour Investments Inc. raised its holdings in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 54 shares during the period. Finally, National Pension Service raised its holdings in Nordson by 74.8% in the 1st quarter. National Pension Service now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NDSN. DA Davidson set a $285.00 price objective on shares of Nordson in a report on Tuesday. Jefferies Financial Group restated a “hold” rating and issued a $240.00 price objective on shares of Nordson in a report on Thursday, August 21st. Oppenheimer boosted their price objective on shares of Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. Finally, Robert W. Baird boosted their price target on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.75.

Insider Buying and Selling at Nordson

In other news, EVP Joseph P. Kelley sold 2,200 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total value of $528,000.00. Following the completion of the sale, the executive vice president directly owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. This represents a 25.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.80% of the company’s stock.

Nordson Stock Performance

Shares of NDSN opened at $235.95 on Friday. The stock has a 50 day moving average price of $226.83 and a 200 day moving average price of $212.80. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86.

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

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a $0.82 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This is an increase from Nordson’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. Nordson’s dividend payout ratio is currently 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.