Nordson Co. (NASDAQ:NDSN) Stake Decreased by Sara Bay Financial

Sara Bay Financial lessened its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,017 shares of the industrial products company’s stock after selling 610 shares during the period. Sara Bay Financial’s holdings in Nordson were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock valued at $39,000 after buying an additional 89 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 115 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Nordson during the fourth quarter worth $62,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Nordson during the fourth quarter worth $92,000. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Nordson during the fourth quarter worth $98,000. Institutional investors own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp cut their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a research note on Friday, May 30th. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. Finally, Robert W. Baird upped their price target on Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.17.

Nordson Stock Up 0.6%

Shares of NDSN opened at $214.76 on Friday. The company has a market capitalization of $12.14 billion, a P/E ratio of 27.32, a PEG ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. Nordson Co. has a one year low of $165.03 and a one year high of $266.86. The business’s 50 day simple moving average is $192.64 and its 200-day simple moving average is $210.36.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same quarter in the prior year, the business earned $2.34 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, June 18th. Nordson’s dividend payout ratio is presently 40.10%.

Nordson 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.