Van ECK Associates Corp Acquires 257 Shares of Nordson Co. (NASDAQ:NDSN)

Van ECK Associates Corp grew its holdings in Nordson Co. (NASDAQ:NDSN) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,172 shares of the industrial products company’s stock after acquiring an additional 257 shares during the quarter. Van ECK Associates Corp’s holdings in Nordson were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. acquired a new stake in Nordson in the 4th quarter worth $285,000. Truist Financial Corp raised its holdings in Nordson by 0.3% in the 4th quarter. Truist Financial Corp now owns 60,705 shares of the industrial products company’s stock valued at $16,036,000 after acquiring an additional 169 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in Nordson by 15.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,838 shares of the industrial products company’s stock valued at $1,542,000 after acquiring an additional 800 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in Nordson by 11.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,465 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 249 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Nordson during the 4th quarter valued at about $133,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Down 0.4 %

Shares of NASDAQ NDSN opened at $271.00 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.19 and a debt-to-equity ratio of 0.56. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. Nordson Co. has a 12-month low of $208.90 and a 12-month high of $278.00. The firm’s 50-day simple moving average is $266.06 and its 200 day simple moving average is $252.78.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $630.77 million. During the same period in the prior year, the firm earned $1.95 earnings per share. Nordson’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts expect that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NDSN shares. Wells Fargo & Company increased their target price on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp restated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. DA Davidson increased their target price on shares of Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.00.

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.