GPM Growth Investors Inc. Boosts Stake in Nordson Co. (NASDAQ:NDSN)

GPM Growth Investors Inc. increased its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,706 shares of the industrial products company’s stock after purchasing an additional 59 shares during the period. Nordson accounts for 1.8% of GPM Growth Investors Inc.’s investment portfolio, making the stock its 23rd largest holding. GPM Growth Investors Inc.’s holdings in Nordson were worth $3,885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tobam raised its position in Nordson by 2,275.0% during the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock worth $25,000 after buying an additional 91 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Nordson during the fourth quarter worth about $26,000. Sound Income Strategies LLC acquired a new stake in Nordson in the fourth quarter valued at about $27,000. Fortitude Family Office LLC purchased a new stake in Nordson in the 4th quarter valued at approximately $28,000. Finally, Smithfield Trust Co increased its position in Nordson by 105.6% during the 3rd quarter. Smithfield Trust Co now owns 146 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company raised their price target on Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. DA Davidson boosted 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. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $278.00.

Nordson Price Performance

Shares of Nordson stock traded down $2.42 on Tuesday, hitting $260.07. The company’s stock had a trading volume of 47,976 shares, compared to its average volume of 207,383. 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 capitalization of $14.87 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The firm has a fifty day moving average price of $266.41 and a 200-day moving average price of $250.75. Nordson Co. has a 52-week low of $208.90 and a 52-week high of $278.00.

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 analyst estimates of $630.77 million. During the same period in the prior year, the business earned $1.95 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were given a $0.68 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.72 annualized dividend and a dividend yield of 1.05%. Nordson’s dividend payout ratio is currently 31.81%.

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.