BlackRock Inc. lowered its stake in Nordson Co. (NASDAQ:NDSN) by 5.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,941,110 shares of the industrial products company’s stock after selling 290,490 shares during the quarter. BlackRock Inc. owned about 8.51% of Nordson worth $1,084,622,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Eagle Asset Management Inc. grew its stake in Nordson by 23.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 14,590 shares of the industrial products company’s stock valued at $3,202,000 after purchasing an additional 2,804 shares in the last quarter. Deutsche Bank AG grew its stake in Nordson by 12.3% during the 2nd quarter. Deutsche Bank AG now owns 49,089 shares of the industrial products company’s stock valued at $10,775,000 after purchasing an additional 5,395 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Nordson during the 2nd quarter valued at approximately $280,000. People s United Financial Inc. grew its stake in Nordson by 0.5% during 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. Finally, Psagot Investment House Ltd. acquired a new stake in Nordson during the 2nd quarter valued at approximately $318,000. Hedge funds and other institutional investors own 68.47% of the company’s stock.
Shares of NDSN opened at $243.89 on Friday. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 2.33 and a beta of 0.98. The stock has a 50 day moving average of $232.66 and a 200-day moving average of $218.86. The company has a current ratio of 2.48, a quick ratio of 1.76 and a debt-to-equity ratio of 0.39. Nordson Co. has a 52 week low of $178.60 and a 52 week high of $245.90.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Tuesday, August 24th were issued a $0.51 dividend. This is an increase from Nordson’s previous quarterly dividend of $0.39. The ex-dividend date was Monday, August 23rd. This represents a $2.04 annualized dividend and a dividend yield of 0.84%. Nordson’s dividend payout ratio (DPR) is 37.23%.
NDSN has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Nordson from a “hold” rating to a “sell” rating and set a $233.00 price objective for the company. in a research note on Wednesday, July 28th. DA Davidson lifted their target price on Nordson from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Finally, Wells Fargo & Company lifted their target price on Nordson from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 1st. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $252.00.
In related news, EVP Gregory P. Merk sold 236 shares of the firm’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $225.00, for a total value of $53,100.00. Following the sale, the executive vice president now owns 19,634 shares of the company’s stock, valued at approximately $4,417,650. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey A. Pembroke sold 2,000 shares of Nordson stock in a transaction on 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. In the last three months, insiders sold 12,000 shares of company stock worth $2,731,900. Company insiders own 0.87% of the company’s stock.
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.
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