Sumitomo Mitsui Trust Group Inc. Raises Stake in Nordson Corporation $NDSN

Sumitomo Mitsui Trust Group Inc. boosted its position in Nordson Corporation (NASDAQ:NDSN) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,270 shares of the industrial products company’s stock after buying an additional 7,237 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Nordson worth $28,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in Nordson by 640.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock valued at $32,000 after buying an additional 128 shares during the last quarter. Roman Butler Fullerton & Co. purchased a new stake in Nordson in the second quarter valued at approximately $203,000. Ethic Inc. boosted its position in Nordson by 17.6% in the second quarter. Ethic Inc. now owns 7,073 shares of the industrial products company’s stock valued at $1,521,000 after buying an additional 1,061 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Nordson in the second quarter valued at approximately $489,000. Finally, Stephens Inc. AR boosted its position in Nordson by 6.3% in the second quarter. Stephens Inc. AR now owns 2,901 shares of the industrial products company’s stock valued at $622,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Activity

In related news, EVP Joseph P. Kelley sold 2,300 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the transaction, the executive vice president directly owned 8,605 shares of the company’s stock, valued at approximately $1,999,715.95. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NDSN. DA Davidson set a $285.00 target price on Nordson in a research report on Tuesday, October 21st. KeyCorp upped their price objective on Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Robert W. Baird upped their price objective on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Jefferies Financial Group restated a “hold” rating and issued a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Saturday, August 23rd. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.75.

Nordson Trading Down 1.3%

Shares of NASDAQ:NDSN opened at $235.32 on Wednesday. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. 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’s 50 day moving average price is $228.12 and its 200-day moving average price is $214.51.

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

Nordson Increases Dividend

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

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.