Nordson Corporation $NDSN Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,562 shares of the industrial products company’s stock after selling 424 shares during the period. Aberdeen Group plc’s holdings in Nordson were worth $764,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. lifted its position in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 54 shares during the last quarter. Three Seasons Wealth LLC lifted its holdings in Nordson by 3.0% during the 2nd quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company’s stock worth $397,000 after buying an additional 54 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of Nordson by 2.2% in the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after acquiring an additional 67 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Nordson by 0.6% during the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. KeyCorp increased their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. Oppenheimer upped their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nordson in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Nordson has an average rating of “Moderate Buy” and an average target price of $255.75.

Nordson Stock Performance

NDSN stock opened at $233.34 on Friday. The company has a 50-day simple moving average of $225.27 and a 200 day simple moving average of $211.38. The company has a market capitalization of $13.11 billion, a P/E ratio of 29.31, a PEG ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. The company had revenue of $646.86 million for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. Sell-side analysts predict that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.82 per share. This is a boost from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. Nordson’s payout ratio is 41.21%.

Nordson Company 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.