Nordson Corporation $NDSN Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its position in Nordson Corporation (NASDAQ:NDSN) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,366 shares of the industrial products company’s stock after buying an additional 7,319 shares during the quarter. Johnson Investment Counsel Inc. owned 0.60% of Nordson worth $72,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after buying an additional 67 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Nordson by 18.7% in the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company’s stock valued at $535,000 after buying an additional 418 shares in the last quarter. Amalgamated Bank grew its stake in shares of Nordson by 1.2% in the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company’s stock valued at $2,153,000 after buying an additional 127 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Nordson in the first quarter valued at $1,599,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Nordson by 4.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company’s stock valued at $51,088,000 after buying an additional 9,679 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Stock Down 2.4%

Shares of NASDAQ NDSN opened at $228.16 on Friday. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The business has a 50-day moving average of $223.26 and a two-hundred day moving average of $210.41. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. The company had revenue of $646.86 million during the quarter. Nordson had a return on equity of 19.45% and a net margin of 16.34%. On average, analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued a dividend of $0.82 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NDSN shares. Oppenheimer boosted their target price on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, August 25th. Wolfe Research started coverage on Nordson in a research note on Wednesday, June 18th. They set a “peer perform” rating for the company. Vertical Research started coverage on Nordson in a research note on Tuesday, June 17th. They set a “hold” rating and a $245.00 target price for the company. Jefferies Financial Group reissued a “hold” rating and set a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. Finally, Robert W. Baird boosted their target price on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.75.

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.