Resona Asset Management Co. Ltd. Raises Stock Position in Nordson Corporation $NDSN

Resona Asset Management Co. Ltd. increased its holdings in shares of Nordson Corporation (NASDAQ:NDSN) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,526 shares of the industrial products company’s stock after purchasing an additional 2,415 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nordson were worth $5,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its stake 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 in the last quarter. Three Seasons Wealth LLC raised its holdings in shares of Nordson by 3.0% during the 2nd quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company’s stock valued at $397,000 after buying an additional 54 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Nordson by 2.2% during the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock valued at $553,000 after buying an additional 58 shares during the period. Allworth Financial LP lifted its position in Nordson by 0.6% during the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 69 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in Nordson by 1.8% in the 1st quarter. Aberdeen Group plc now owns 3,986 shares of the industrial products company’s stock worth $797,000 after acquiring an additional 70 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the sale, the executive vice president owned 6,405 shares in the company, valued at $1,537,200. This represents a 25.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

Nordson Stock Up 0.9%

Shares of NASDAQ:NDSN opened at $232.61 on Monday. The firm has a market cap of $13.07 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The company has a fifty day simple moving average of $229.43 and a 200 day simple moving average of $217.53. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The company had revenue of $646.86 million during the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. On average, equities research analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.82 dividend. This is an increase from Nordson’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, September 11th. Nordson’s dividend payout ratio is presently 41.21%.

Analysts Set New Price Targets

Several brokerages have issued reports on NDSN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating and issued a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. DA Davidson set a $285.00 price target on shares of Nordson in a research note on Tuesday, October 21st. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. Finally, Robert W. Baird upped their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.75.

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.