Trust Co. of Toledo NA OH Purchases Shares of 146 Nordson Corporation $NDSN

Trust Co. of Toledo NA OH purchased a new stake in Nordson Corporation (NASDAQ:NDSN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 146 shares of the industrial products company’s stock, valued at approximately $31,000.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Nordson by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 67 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Nordson by 18.7% in the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company’s stock worth $535,000 after buying an additional 418 shares during the last quarter. Amalgamated Bank increased its stake in shares of Nordson by 1.2% in the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company’s stock worth $2,153,000 after buying an additional 127 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Nordson in the first quarter worth $1,599,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nordson by 4.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company’s stock valued at $51,088,000 after acquiring an additional 9,679 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

NDSN has been the topic of several research reports. Vertical Research initiated coverage on Nordson in a research report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $240.00 target price on shares of Nordson in a research report on Thursday, August 21st. KeyCorp increased their target price 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 increased their target price on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Finally, Wall Street Zen raised 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 assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.75.

Nordson Price Performance

Shares of NDSN opened at $230.52 on Tuesday. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.73 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 Corporation has a one year low of $165.03 and a one year high of $266.86. The stock’s fifty day moving average is $223.62 and its 200-day moving average is $210.65.

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

Nordson Increases Dividend

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