Nordson Corporation $NDSN Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in shares of Nordson Corporation (NASDAQ:NDSN) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,199 shares of the industrial products company’s stock after selling 490 shares during the period. US Bancorp DE’s holdings in Nordson were worth $686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in Nordson by 3.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock worth $540,867,000 after purchasing an additional 90,704 shares during the last quarter. Invesco Ltd. increased its position in Nordson by 15.9% during the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock worth $210,536,000 after purchasing an additional 142,991 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Nordson by 156.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company’s stock worth $205,685,000 after purchasing an additional 621,734 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Nordson by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 470,997 shares of the industrial products company’s stock worth $95,010,000 after purchasing an additional 11,287 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in Nordson by 3.9% during the first quarter. Raymond James Financial Inc. now owns 367,609 shares of the industrial products company’s stock worth $74,154,000 after purchasing an additional 13,926 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NDSN has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and set a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Saturday, August 23rd. Oppenheimer lifted their price target on shares of Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, August 25th. Robert W. Baird lifted their price target on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.75.

Nordson Trading Up 0.6%

Shares of NDSN stock opened at $233.34 on Monday. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a 50 day moving average price of $225.27 and a 200 day moving average price of $211.61. The stock has a market capitalization of $13.11 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69.

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

Nordson Increases Dividend

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