Cynosure Group LLC Invests $1.40 Million in Nordson Corporation $NDSN

Cynosure Group LLC acquired a new stake in shares of Nordson Corporation (NASDAQ:NDSN) during the second quarter, HoldingsChannel reports. The firm acquired 6,518 shares of the industrial products company’s stock, valued at approximately $1,397,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NDSN. Quarry LP acquired a new position in Nordson during the 1st quarter valued at about $28,000. Trust Co. of Toledo NA OH acquired a new position in shares of Nordson during the second quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Nordson by 640.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 128 shares during the period. NewSquare Capital LLC raised its holdings in Nordson by 212.0% during the second quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 106 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Nordson by 96.3% during the 2nd quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

NDSN stock opened at $233.48 on Friday. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The firm has a 50-day moving average of $230.84 and a two-hundred day moving average of $220.25. The firm has a market capitalization of $13.12 billion, a PE ratio of 29.33, a P/E/G ratio of 1.77 and a beta of 0.98. 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 (NASDAQ:NDSN) last released its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. The business 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%. On average, analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

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

Wall Street Analyst Weigh In

NDSN has been the topic of a number of research reports. Oppenheimer boosted their price objective on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, August 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday. 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 research note on Friday, August 22nd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.75.

Insiders Place Their Bets

In other Nordson news, EVP Joseph P. Kelley sold 2,300 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $232.39, for a total transaction of $534,497.00. Following the completion of the sale, the executive vice president directly owned 8,605 shares in the company, valued at approximately $1,999,715.95. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James E. Devries sold 9,100 shares of Nordson stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $233.60, for a total value of $2,125,760.00. Following the transaction, the executive vice president directly owned 51,223 shares in the company, valued at approximately $11,965,692.80. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,600 shares of company stock worth $3,188,257 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

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.