Handelsbanken Fonder AB Sells 2,500 Shares of Nordson Co. (NASDAQ:NDSN)

Handelsbanken Fonder AB decreased its position in Nordson Co. (NASDAQ:NDSN) by 18.5% during the 4th quarter, HoldingsChannel reports. The fund owned 11,030 shares of the industrial products company’s stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nordson were worth $2,914,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. abrdn plc raised its stake in shares of Nordson by 10.7% during the 4th quarter. abrdn plc now owns 11,702 shares of the industrial products company’s stock worth $3,091,000 after purchasing an additional 1,128 shares in the last quarter. AIA Group Ltd raised its stake in shares of Nordson by 504.2% during the 4th quarter. AIA Group Ltd now owns 8,713 shares of the industrial products company’s stock worth $2,302,000 after purchasing an additional 7,271 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Nordson by 5.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,833 shares of the industrial products company’s stock worth $1,805,000 after purchasing an additional 334 shares in the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of Nordson by 147.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,136 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 676 shares in the last quarter. Finally, Crown Oak Advisors LLC bought a new stake in shares of Nordson during the 4th quarter worth approximately $9,496,000. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 0.3 %

NDSN stock opened at $260.40 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $14.89 billion, a PE ratio of 30.46, a PEG ratio of 1.96 and a beta of 1.00. Nordson Co. has a 1-year low of $208.90 and a 1-year high of $278.00. The business’s 50 day simple moving average is $266.44 and its 200 day simple moving average is $250.19.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $630.77 million. During the same period in the prior year, the firm posted $1.95 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio is 31.81%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NDSN. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their price objective on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. DA Davidson upped their price objective on Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, KeyCorp reissued a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.00.

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.