9,637 Shares in Nordson Corporation (NASDAQ:NDSN) Purchased by St. Clair Advisors LLC

St. Clair Advisors LLC acquired a new position in Nordson Corporation (NASDAQ:NDSN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,637 shares of the industrial products company’s stock, valued at approximately $1,944,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Nordson by 12.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,074 shares of the industrial products company’s stock worth $2,019,000 after acquiring an additional 1,136 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Nordson by 5.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 3,320 shares of the industrial products company’s stock valued at $670,000 after buying an additional 185 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Nordson by 100.8% during the first quarter. Golden State Wealth Management LLC now owns 1,721 shares of the industrial products company’s stock valued at $347,000 after buying an additional 864 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Nordson by 1.5% during the first quarter. GHP Investment Advisors Inc. now owns 64,200 shares of the industrial products company’s stock valued at $12,950,000 after buying an additional 948 shares during the last quarter. Finally, Harvey Investment Co. LLC lifted its position in shares of Nordson by 10.9% during the first quarter. Harvey Investment Co. LLC now owns 95,627 shares of the industrial products company’s stock valued at $19,290,000 after buying an additional 9,405 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Vertical Research assumed coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price target for the company. KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Robert W. Baird increased their price target on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Wolfe Research assumed coverage on shares of Nordson in a research report on Wednesday, June 18th. They set a “peer perform” rating for the company. Finally, Wall Street Zen lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nordson has an average rating of “Moderate Buy” and a consensus price target of $252.00.

Nordson Stock Performance

NDSN opened at $215.12 on Friday. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The company has a market cap of $12.16 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The firm’s 50-day moving average price is $202.82 and its 200-day moving average price is $206.01.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same quarter in the prior year, the company posted $2.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.45%. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

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.