New York Life Investment Management LLC Raises Position in Nordson Co. (NASDAQ:NDSN)

New York Life Investment Management LLC raised its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,314 shares of the industrial products company’s stock after acquiring an additional 49 shares during the quarter. New York Life Investment Management LLC’s holdings in Nordson were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NDSN. UMB Bank n.a. boosted its stake in shares of Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 52 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Nordson by 695.0% during the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 278 shares during the last quarter. Covestor Ltd boosted its stake in shares of Nordson by 18.8% during the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 43 shares during the last quarter. Quarry LP purchased a new position in shares of Nordson during the 3rd quarter valued at $109,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Nordson during the 4th quarter valued at $179,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Transactions at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. The trade was a 15.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $207.10 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The company has a market cap of $11.79 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.65 and a beta of 0.95. The firm’s fifty day moving average is $213.38 and its two-hundred day moving average is $237.84. Nordson Co. has a 52-week low of $196.83 and a 52-week high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The company had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. As a group, analysts anticipate that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.78 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.51%. Nordson’s dividend payout ratio (DPR) is presently 39.69%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NDSN shares. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and lifted their target price for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Robert W. Baird restated a “neutral” rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. DA Davidson lowered their target price on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.25.

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.