Legacy Financial Strategies LLC Has $2.36 Million Stock Position in Nordson Co. (NASDAQ:NDSN)

Legacy Financial Strategies LLC grew its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 25.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,676 shares of the industrial products company’s stock after buying an additional 2,384 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Nordson were worth $2,355,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock valued at $39,000 after buying an additional 89 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in shares of Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock valued at $57,000 after buying an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Nordson during the fourth quarter valued at about $62,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Nordson during the fourth quarter valued at about $92,000. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Nordson during the fourth quarter valued at about $98,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NDSN shares. Robert W. Baird lifted their price objective on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research report on Friday. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. 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 report on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nordson has an average rating of “Moderate Buy” and a consensus target price of $253.17.

Nordson Stock Performance

Shares of NDSN stock opened at $212.49 on Friday. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $266.86. The firm’s 50-day simple moving average is $191.64 and its two-hundred day simple moving average is $211.80.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. As a group, equities analysts forecast that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s dividend payout ratio is 40.10%.

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.