Axxcess Wealth Management LLC Raises Stock Position in Nordson Co. (NASDAQ:NDSN)

Axxcess Wealth Management LLC grew its holdings in Nordson Co. (NASDAQ:NDSN) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,714 shares of the industrial products company’s stock after acquiring an additional 76 shares during the period. Axxcess Wealth Management LLC’s holdings in Nordson were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NDSN. Norges Bank purchased a new position in shares of Nordson in the 4th quarter valued at $158,948,000. Public Employees Retirement Association of Colorado increased its stake in Nordson by 1,579.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock worth $91,762,000 after buying an additional 326,690 shares during the period. International Assets Investment Management LLC increased its stake in Nordson by 24,445.4% during the 4th quarter. International Assets Investment Management LLC now owns 158,809 shares of the industrial products company’s stock worth $41,951,000 after buying an additional 158,162 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Nordson in the 1st quarter worth about $42,894,000. Finally, TD Asset Management Inc increased its position in shares of Nordson by 158.5% in the 4th quarter. TD Asset Management Inc now owns 245,196 shares of the industrial products company’s stock worth $64,771,000 after purchasing an additional 150,341 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Performance

Shares of NASDAQ NDSN traded up $5.40 during midday trading on Friday, hitting $245.95. The company’s stock had a trading volume of 234,406 shares, compared to its average volume of 232,890. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The firm’s fifty day moving average price is $234.30 and its 200-day moving average price is $253.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 2.21. The firm has a market cap of $14.09 billion, a P/E ratio of 28.67, a P/E/G ratio of 1.91 and a beta of 0.91.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.30 by $0.04. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The business had revenue of $650.64 million during the quarter, compared to analyst estimates of $661.06 million. During the same period in the previous year, the business posted $2.26 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts forecast that Nordson Co. will post 9.52 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, May 20th. Nordson’s dividend payout ratio (DPR) is 32.42%.

Analyst Ratings Changes

NDSN has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. DA Davidson dropped their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $279.40.

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.