UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Nordson Corporation (NASDAQ:NDSN – Free Report) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,017 shares of the industrial products company’s stock after purchasing an additional 27,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.53% of Nordson worth $89,305,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. XXEC Inc. acquired a new position in Nordson during the second quarter worth about $896,378,000. BlackRock Inc. acquired a new stake in shares of Nordson during the 2nd quarter valued at approximately $1,248,447,000. State Street Corp boosted its stake in shares of Nordson by 4.7% during the 2nd quarter. State Street Corp now owns 2,958,110 shares of the industrial products company’s stock worth $636,375,000 after acquiring an additional 133,229 shares in the last quarter. Morgan Stanley boosted its stake in shares of Nordson by 6.2% during the 4th quarter. Morgan Stanley now owns 1,582,637 shares of the industrial products company’s stock worth $380,514,000 after acquiring an additional 92,970 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Nordson by 24.0% in the 4th quarter. JPMorgan Chase & Co. now owns 891,016 shares of the industrial products company’s stock worth $214,227,000 after acquiring an additional 172,400 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.
Nordson Stock Down 2.3%
NDSN stock opened at $314.40 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.82 and a quick ratio of 1.18. The company’s 50 day simple moving average is $303.64 and its 200-day simple moving average is $289.08. Nordson Corporation has a 12 month low of $220.06 and a 12 month high of $339.12. The firm has a market capitalization of $17.51 billion, a PE ratio of 31.79, a P/E/G ratio of 2.09 and a beta of 0.97.
Nordson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Thursday, September 10th will be given a $0.94 dividend. This is an increase from Nordson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, September 10th. Nordson’s dividend payout ratio (DPR) is currently 33.16%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on NDSN shares. Wall Street Zen downgraded Nordson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. BNP Paribas Exane boosted their target price on Nordson from $285.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Robert W. Baird upped their target price on Nordson from $328.00 to $351.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Weiss Ratings upgraded Nordson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Nordson in a research note on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $326.57.
Read Our Latest Analysis on NDSN
Insiders Place Their Bets
In related news, EVP Daniel Roy Hopgood sold 1,329 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $334.29, for a total transaction of $444,271.41. Following the sale, the executive vice president owned 4,758 shares of the company’s stock, valued at $1,590,551.82. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Mcdonough sold 260 shares of Nordson stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $336.00, for a total value of $87,360.00. Following the sale, the executive vice president owned 6,346 shares of the company’s stock, valued at approximately $2,132,256. This represents a 3.94% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by company insiders.
Nordson Company Profile
Nordson Corporation designs, manufactures and markets precision dispensing equipment and systems that apply adhesives, coatings, sealants and polymers in a broad range of industrial and medical applications. The company’s portfolio spans fluid systems, curing and surface preparation technologies, vacuum and thermal management products, and advanced test and inspection solutions. Nordson’s offerings serve critical manufacturing processes by delivering exacting dispensing accuracy and process control to ensure consistent product performance and high production throughput.
Nordson operates through multiple segments that cater to diverse markets including electronics, packaging, medical, energy, automotive and general industrial sectors.
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