Toronto Dominion Bank Boosts Position in Nordson Co. (NASDAQ:NDSN)

Toronto Dominion Bank boosted its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 59.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,070 shares of the industrial products company’s stock after buying an additional 10,832 shares during the quarter. Toronto Dominion Bank’s holdings in Nordson were worth $6,083,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NDSN. UMB Bank n.a. increased its holdings in shares of Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 52 shares in the last quarter. Tortoise Investment Management LLC grew its stake in 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 acquiring an additional 115 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Nordson in the 4th quarter valued at $62,000. Canada Post Corp Registered Pension Plan acquired a new stake in Nordson in the 4th quarter valued at $92,000. Finally, Generali Asset Management SPA SGR acquired a new stake in Nordson in the 4th quarter valued at $98,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Trading Down 2.9%

Shares of NDSN opened at $196.47 on Thursday. Nordson Co. has a 52-week low of $165.03 and a 52-week high of $266.86. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $192.70 and its two-hundred day moving average is $214.61. The stock has a market cap of $11.18 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90.

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

Nordson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.59%. Nordson’s dividend payout ratio (DPR) is presently 39.69%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NDSN. KeyCorp dropped their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. BNP Paribas cut shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research note on Monday, February 24th. Finally, Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and lifted their price target for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four 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 company’s stock. According to MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.20.

About Nordson

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.