BlackRock Inc. Decreases Position in Nordson Co. (NASDAQ:NDSN)

BlackRock Inc. trimmed its position in Nordson Co. (NASDAQ:NDSN) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 4,884,174 shares of the industrial products company’s stock after selling 56,936 shares during the period. BlackRock Inc. owned 0.08% of Nordson worth $1,163,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Nordson by 2.7% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 1,626 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 43 shares in the last quarter. GWM Advisors LLC raised its holdings in shares of Nordson by 4.0% in the 3rd quarter. GWM Advisors LLC now owns 1,140 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 44 shares in the last quarter. People s United Financial Inc. raised its holdings in shares of Nordson by 0.5% in the 2nd quarter. People s United Financial Inc. now owns 9,238 shares of the industrial products company’s stock valued at $2,028,000 after purchasing an additional 49 shares in the last quarter. Capital Asset Advisory Services LLC raised its holdings in shares of Nordson by 1.2% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 4,164 shares of the industrial products company’s stock valued at $992,000 after purchasing an additional 49 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Nordson by 2.7% in the 2nd quarter. King Luther Capital Management Corp now owns 2,236 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 67.97% of the company’s stock.

Shares of NDSN opened at $238.41 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.87 billion, a P/E ratio of 30.80, a PEG ratio of 2.09 and a beta of 0.95. The company has a 50-day moving average of $257.34 and a two-hundred day moving average of $243.04. Nordson Co. has a 12-month low of $178.60 and a 12-month high of $272.28.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, December 15th. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.22). The business had revenue of $599.25 million for the quarter, compared to analyst estimates of $619.43 million. Nordson had a return on equity of 22.63% and a net margin of 19.24%. During the same quarter in the previous year, the firm posted $1.59 EPS. As a group, analysts forecast that Nordson Co. will post 8.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 4th. Stockholders of record on Tuesday, December 21st were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Monday, December 20th. Nordson’s dividend payout ratio is presently 26.36%.

Several brokerages recently commented on NDSN. Zacks Investment Research lowered shares of Nordson from a “buy” rating to a “hold” rating and set a $272.00 price target on the stock. in a research note on Tuesday, November 2nd. Morgan Stanley boosted their price objective on shares of Nordson from $230.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, December 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Nordson from $280.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, January 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $281.75.

About Nordson

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 the following 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.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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