Nordson Corporation $NDSN Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Nordson Corporation (NASDAQ:NDSN) by 9.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 27,526 shares of the industrial products company’s stock after purchasing an additional 2,415 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Nordson were worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Nordson in the first quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in shares of Nordson in the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Nordson by 640.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 128 shares during the last quarter. NewSquare Capital LLC boosted its position in Nordson by 212.0% during the 2nd quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 106 shares during the period. Finally, UMB Bank n.a. grew its stake in Nordson by 96.3% during the 2nd quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock worth $35,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Insiders Place Their Bets

In other Nordson news, EVP Joseph P. Kelley sold 2,200 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the completion of the transaction, the executive vice president directly owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. This trade represents a 25.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by company insiders.

Nordson Stock Performance

NDSN stock opened at $232.61 on Monday. The company has a 50-day simple moving average of $229.43 and a 200 day simple moving average of $217.53. The company has a market capitalization of $13.07 billion, a P/E ratio of 29.22, a PEG ratio of 1.77 and a beta of 0.98. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

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

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Nordson’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a yield of 1.4%. Nordson’s dividend payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NDSN. Wall Street Zen upgraded Nordson from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. Oppenheimer increased their price objective on shares of Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Jefferies Financial Group restated a “hold” rating and issued a $240.00 target price on shares of Nordson in a research report on Thursday, August 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.75.

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.