Balyasny Asset Management L.P. Invests $13.21 Million in Nordson Co. (NASDAQ:NDSN)

Balyasny Asset Management L.P. bought a new stake in Nordson Co. (NASDAQ:NDSN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,121 shares of the industrial products company’s stock, valued at approximately $13,207,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Nordson by 26.1% in the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after buying an additional 52 shares during the period. Tortoise Investment Management LLC lifted its stake in shares of Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 115 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Nordson during the 4th quarter valued at about $62,000. Brooklyn Investment Group grew its stake in Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 278 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Nordson in the fourth quarter worth approximately $92,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Price Performance

Nordson stock opened at $194.10 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. Nordson Co. has a one year low of $165.03 and a one year high of $279.38. The firm has a market capitalization of $11.05 billion, a P/E ratio of 24.69, a PEG ratio of 1.65 and a beta of 0.90. The business has a fifty day moving average price of $194.05 and a 200-day moving average price of $217.62.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The firm had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. As a group, equities research analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s dividend payout ratio (DPR) is currently 39.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. KeyCorp dropped their target price on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and upped their price objective for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $250.20.

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.