Oppenheimer Asset Management Inc. purchased a new position in shares of Nordson Corporation (NASDAQ:NDSN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,935 shares of the industrial products company’s stock, valued at approximately $2,092,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. New York Life Investment Management LLC increased its stake in Nordson by 64.9% in the fourth quarter. New York Life Investment Management LLC now owns 12,041 shares of the industrial products company’s stock valued at $2,895,000 after purchasing an additional 4,737 shares during the last quarter. UBS Group AG lifted its position in Nordson by 7.3% during the fourth quarter. UBS Group AG now owns 432,984 shares of the industrial products company’s stock worth $104,102,000 after buying an additional 29,294 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Nordson in the 4th quarter worth about $1,671,000. Jackson Creek Investment Advisors LLC acquired a new stake in Nordson in the 4th quarter worth about $1,426,000. Finally, Jennison Associates LLC grew its holdings in Nordson by 539.2% in the 4th quarter. Jennison Associates LLC now owns 252,353 shares of the industrial products company’s stock valued at $60,673,000 after buying an additional 212,876 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.
Nordson Stock Performance
Shares of NASDAQ:NDSN opened at $308.72 on Monday. The firm has a market capitalization of $17.20 billion, a PE ratio of 32.91, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.60 and a quick ratio of 1.65. The business has a 50-day moving average of $295.51 and a two-hundred day moving average of $285.60. Nordson Corporation has a 12 month low of $211.50 and a 12 month high of $315.68.
Nordson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Thursday, June 18th were issued a $0.82 dividend. The ex-dividend date was Thursday, June 18th. This represents a $3.28 annualized dividend and a yield of 1.1%. Nordson’s dividend payout ratio (DPR) is presently 34.97%.
Analyst Upgrades and Downgrades
NDSN has been the subject of a number of research analyst reports. Oppenheimer upped their price objective on shares of Nordson from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Wall Street Zen cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. DA Davidson boosted their target price on shares of Nordson from $335.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Nordson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. Finally, BNP Paribas Exane increased 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. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nordson currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.29.
View Our Latest Report on Nordson
Nordson 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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