Sierra Legacy Group Raises Stock Holdings in Nordson Corporation $NDSN

Sierra Legacy Group lifted its holdings in shares of Nordson Corporation (NASDAQ:NDSN) by 89.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,692 shares of the industrial products company’s stock after acquiring an additional 2,685 shares during the period. Sierra Legacy Group’s holdings in Nordson were worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Harbour Investments Inc. grew its position in Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 54 shares during the last quarter. Three Seasons Wealth LLC boosted its stake in shares of Nordson by 3.0% during the second quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company’s stock worth $397,000 after buying an additional 54 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Nordson by 2.2% during the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock worth $553,000 after buying an additional 58 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Nordson by 1.0% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 6,666 shares of the industrial products company’s stock worth $1,429,000 after buying an additional 66 shares during the last quarter. Finally, Aberdeen Group plc increased its position in Nordson by 1.8% in the 1st quarter. Aberdeen Group plc now owns 3,986 shares of the industrial products company’s stock valued at $797,000 after acquiring an additional 70 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Stock Performance

Shares of NDSN opened at $226.69 on Wednesday. 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 52-week low of $165.03 and a 52-week high of $266.86. The company has a 50-day simple moving average of $230.55 and a 200-day simple moving average of $219.62. The company has a market capitalization of $12.74 billion, a PE ratio of 28.48, a P/E/G ratio of 1.77 and a beta of 0.98.

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. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company had revenue of $646.86 million for the quarter. Equities research 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. Shareholders of record on Thursday, September 11th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.4%. This is a positive change from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, September 11th. Nordson’s dividend payout ratio is currently 41.21%.

Insiders Place Their Bets

In other news, EVP James E. Devries sold 9,100 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $233.60, for a total value of $2,125,760.00. Following the completion of the transaction, the executive vice president owned 51,223 shares in the company, valued at $11,965,692.80. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph P. Kelley sold 2,300 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $232.39, for a total transaction of $534,497.00. Following the completion of the sale, the executive vice president owned 8,605 shares in the company, valued at $1,999,715.95. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,600 shares of company stock valued at $3,188,257. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NDSN. DA Davidson set a $285.00 target price on Nordson in a research note on Tuesday, October 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $240.00 price target on shares of Nordson in a report on Thursday, August 21st. Oppenheimer boosted their price objective on shares of Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, August 25th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. Finally, Robert W. Baird increased their price target on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.75.

About Nordson

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.