Nordson Corporation $NDSN Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. increased its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 24.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,401 shares of the industrial products company’s stock after acquiring an additional 660 shares during the quarter. Wedbush Securities Inc.’s holdings in Nordson were worth $729,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in 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 acquired a new stake in Nordson during the second quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its position in Nordson by 640.0% during the second 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 raised its stake in Nordson by 212.0% during the second quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 106 shares during the period. Finally, UMB Bank n.a. boosted 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 purchasing an additional 79 shares during the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nordson

In other news, EVP Joseph P. Kelley sold 2,300 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $232.39, for a total transaction of $534,497.00. Following the sale, the executive vice president owned 8,605 shares of the company’s stock, valued at approximately $1,999,715.95. This represents a 21.09% 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 the SEC website. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Nordson Stock Performance

Shares of Nordson stock opened at $234.77 on Tuesday. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The business has a 50-day moving average of $229.62 and a 200 day moving average of $217.84. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86.

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

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were given a $0.82 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.28 annualized dividend and a yield of 1.4%. This is a boost from Nordson’s previous quarterly dividend of $0.78. Nordson’s dividend payout ratio is 41.21%.

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.