Van ECK Associates Corp Acquires New Stake in Nordson Co. (NASDAQ:NDSN)

Van ECK Associates Corp acquired a new stake in Nordson Co. (NASDAQ:NDSN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,258 shares of the industrial products company’s stock, valued at approximately $935,000.

Several other hedge funds have also recently bought and sold shares of the stock. Atria Investments LLC purchased a new stake in shares of Nordson in the 2nd quarter valued at $1,473,000. Advisor OS LLC raised its holdings in shares of Nordson by 66.0% in the 2nd quarter. Advisor OS LLC now owns 2,742 shares of the industrial products company’s stock valued at $603,000 after buying an additional 1,090 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of Nordson in the 2nd quarter valued at $125,000. Fermata Advisors LLC purchased a new stake in shares of Nordson in the 2nd quarter valued at $225,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Nordson by 39.3% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,014 shares of the industrial products company’s stock valued at $223,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 68.47% of the company’s stock.

In related news, EVP Gregory P. Merk sold 214 shares of the company’s stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $225.00, for a total value of $48,150.00. Following the completion of the sale, the executive vice president now directly owns 19,634 shares of the company’s stock, valued at approximately $4,417,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey A. Pembroke sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $240.95, for a total value of $481,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock valued at $2,731,900. Insiders own 0.87% of the company’s stock.

NDSN opened at $241.57 on Thursday. Nordson Co. has a one year low of $178.60 and a one year high of $245.90. The company has a market cap of $14.04 billion, a P/E ratio of 39.15, a PEG ratio of 2.33 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 2.48. The business’s 50-day simple moving average is $231.78 and its 200-day simple moving average is $218.19.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Sunday, August 29th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.34. The business had revenue of $646.86 million for the quarter, compared to the consensus estimate of $604.27 million. Nordson had a return on equity of 22.91% and a net margin of 15.61%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. As a group, analysts predict that Nordson Co. will post 7.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Tuesday, August 24th were given a $0.51 dividend. The ex-dividend date was Monday, August 23rd. This is a boost from Nordson’s previous quarterly dividend of $0.39. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.84%. Nordson’s dividend payout ratio is 37.23%.

Several brokerages have weighed in on NDSN. Wells Fargo & Company upped their price target on Nordson from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, September 1st. Morgan Stanley upped their price target on Nordson from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 26th. DA Davidson upped their price target on Nordson from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, Zacks Investment Research downgraded Nordson from a “hold” rating to a “sell” rating and set a $233.00 price target on the stock. in a report on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $252.00.

Nordson Company Profile

Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through three segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.

Recommended Story: Treasury Bonds

Want to see what other hedge funds are holding NDSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordson Co. (NASDAQ:NDSN).

Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

Receive News & Ratings for Nordson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordson and related companies with MarketBeat.com's FREE daily email newsletter.