IFP Advisors Inc Sells 117 Shares of Nordson Corporation $NDSN

IFP Advisors Inc reduced its holdings in shares of Nordson Corporation (NASDAQ:NDSN) by 12.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 818 shares of the industrial products company’s stock after selling 117 shares during the quarter. IFP Advisors Inc’s holdings in Nordson were worth $175,000 at the end of the most recent reporting period.

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

Nordson Trading Up 0.6%

Shares of NDSN stock opened at $233.34 on Friday. The company has a market cap of $13.11 billion, a P/E ratio of 29.31, a PEG ratio of 1.76 and a beta of 0.96. The stock has a 50 day simple moving average of $225.27 and a two-hundred day simple moving average of $211.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

Nordson (NASDAQ:NDSN) last issued its earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The business 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%. Research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. This is a boost from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, September 11th. Nordson’s payout ratio is 41.21%.

Wall Street Analyst Weigh In

NDSN has been the subject of several research reports. Robert W. Baird increased their target price on Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Wall Street Zen upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Saturday, August 23rd. KeyCorp increased their target price on Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $240.00 target price on shares of Nordson in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and an average price target of $255.75.

Nordson 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.