Ritholtz Wealth Management Has $713,000 Stock Holdings in Nordson Corporation $NDSN

Ritholtz Wealth Management trimmed its position in shares of Nordson Corporation (NASDAQ:NDSN) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,325 shares of the industrial products company’s stock after selling 511 shares during the quarter. Ritholtz Wealth Management’s holdings in Nordson were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 valued at $540,867,000 after purchasing an additional 90,704 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Nordson by 15.9% during the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after purchasing an additional 142,991 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $205,685,000 after purchasing an additional 621,734 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $95,010,000 after purchasing an additional 11,287 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Nordson by 3.9% during the first quarter. Raymond James Financial Inc. now owns 367,609 shares of the industrial products company’s stock valued at $74,154,000 after purchasing an additional 13,926 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Trading Up 0.6%

Shares of NDSN stock opened at $233.34 on Friday. The company has a market cap of $13.11 billion, a P/E ratio of 29.31, a PEG ratio of 1.77 and a beta of 0.96. The stock has a 50 day simple moving average of $225.27 and a two-hundred day simple moving average of $211.44. 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 Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

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

Nordson Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on NDSN. Wall Street Zen upgraded Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. Robert W. Baird upped their target price on Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $240.00 target price on shares of Nordson in a report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a report on Wednesday, October 8th. Finally, Oppenheimer upped their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.75.

Nordson Company 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.