Comerica Bank Has $3.77 Million Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Comerica Bank trimmed its position in Nordson Co. (NASDAQ:NDSN) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,010 shares of the industrial products company’s stock after selling 537 shares during the quarter. Comerica Bank’s holdings in Nordson were worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Nordson during the fourth quarter valued at about $142,670,000. Raymond James Financial Inc. bought a new position in shares of Nordson during the 4th quarter worth about $74,005,000. First Trust Advisors LP lifted its stake in shares of Nordson by 676.5% in the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company’s stock valued at $51,539,000 after buying an additional 214,594 shares during the period. FMR LLC grew its position in Nordson by 19.2% during the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company’s stock worth $145,135,000 after buying an additional 111,538 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Nordson by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company’s stock valued at $1,302,887,000 after acquiring an additional 93,146 shares during the period. 72.11% of the stock is owned by institutional investors.

Nordson Stock Down 1.3 %

Shares of NASDAQ:NDSN opened at $188.44 on Wednesday. The company has a market capitalization of $10.72 billion, a PE ratio of 23.97, a P/E/G ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The company’s fifty day moving average is $194.73 and its 200-day moving average is $218.23. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Equities research analysts predict that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.66%. Nordson’s dividend payout ratio (DPR) is presently 39.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NDSN shares. KeyCorp reduced their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price on the stock. in a research report on Monday, February 24th. Finally, Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and increased their price target for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.20.

Nordson Company Profile

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.