Nordson Co. (NASDAQ:NDSN) Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its position in shares of Nordson Co. (NASDAQ:NDSN) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 527 shares of the industrial products company’s stock after buying an additional 98 shares during the period. Westpac Banking Corp’s holdings in Nordson were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its stake in Nordson by 13.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock worth $45,533,000 after acquiring an additional 20,217 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nordson by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after purchasing an additional 48,720 shares during the period. Worldquant Millennium Advisors LLC lifted its position in shares of Nordson by 47.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock worth $4,117,000 after purchasing an additional 5,046 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Nordson in the fourth quarter valued at approximately $4,553,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Nordson by 4.7% in the third quarter. Principal Financial Group Inc. now owns 295,962 shares of the industrial products company’s stock valued at $77,723,000 after purchasing an additional 13,184 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nordson

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson decreased their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a report on Monday, February 24th. Robert W. Baird reissued a “neutral” rating and set a $237.00 target price (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, Baird R W downgraded shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and an average target price of $256.20.

Nordson Price Performance

NDSN stock opened at $176.73 on Friday. The business has a 50 day moving average price of $210.54 and a 200 day moving average price of $230.39. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.65 and a beta of 0.96. Nordson Co. has a fifty-two week low of $173.36 and a fifty-two week high of $279.38.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (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 company had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. Equities research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s payout ratio is currently 39.69%.

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.