Saudi Central Bank raised its holdings in Nordson Corporation (NASDAQ:NDSN – Free Report) by 89.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,709 shares of the industrial products company’s stock after buying an additional 1,752 shares during the period. Saudi Central Bank’s holdings in Nordson were worth $1,119,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of Nordson in the second quarter valued at $25,000. Keating Financial Advisory Services Inc. acquired a new position in Nordson during the 2nd quarter worth $30,000. CYBER HORNET ETFs LLC purchased a new stake in Nordson during the 2nd quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new stake in Nordson in the 2nd quarter valued at about $33,000. Finally, MUFG Securities EMEA plc acquired a new stake in Nordson in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 72.11% of the company’s stock.
Nordson Stock Performance
NASDAQ NDSN opened at $313.94 on Thursday. The company has a fifty day moving average of $305.63 and a two-hundred day moving average of $289.93. The company has a market capitalization of $17.49 billion, a PE ratio of 31.74, a P/E/G ratio of 2.06 and a beta of 0.97. Nordson Corporation has a 1 year low of $220.47 and a 1 year high of $339.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.82 and a quick ratio of 1.18.
Nordson Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Thursday, September 10th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Nordson’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, September 10th. Nordson’s payout ratio is 33.16%.
Analysts Set New Price Targets
NDSN has been the subject of a number of analyst reports. DA Davidson reissued a “buy” rating and set a $345.00 price objective on shares of Nordson in a research report on Thursday, August 20th. BNP Paribas Exane lifted their price target on shares of Nordson from $285.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. KeyCorp reiterated a “buy” rating on shares of Nordson in a report on Thursday, August 20th. Oppenheimer raised their price objective on shares of Nordson from $335.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Finally, Weiss Ratings upgraded shares of Nordson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and a consensus target price of $326.57.
Check Out Our Latest Analysis on Nordson
Insiders Place Their Bets
In related news, EVP Daniel Hopgood sold 1,329 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $334.29, for a total value of $444,271.41. Following the completion of the sale, the executive vice president owned 4,758 shares in the company, valued at $1,590,551.82. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer McDonough sold 260 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $336.00, for a total transaction 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 disclosure for this sale is available in the SEC filing. Insiders own 0.84% of the company’s stock.
Nordson Profile
Nordson Corporation is a global manufacturer of precision dispensing, coating, and fluid-management equipment. Its systems apply adhesives, sealants, coatings, and other materials with controlled accuracy in manufacturing and packaging processes. The company also produces related pumps, valves, nozzles, controls, and inspection technologies.
Nordson serves a broad range of end markets, including packaging, consumer products, electronics, semiconductors, automotive, medical devices, and other industrial applications.
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