KLP Kapitalforvaltning AS Invests $3.81 Million in Nordson Co. (NASDAQ:NDSN)

KLP Kapitalforvaltning AS bought a new stake in Nordson Co. (NASDAQ:NDSN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,200 shares of the industrial products company’s stock, valued at approximately $3,808,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Nordson by 7.2% in the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock valued at $692,916,000 after buying an additional 177,282 shares during the period. Geode Capital Management LLC grew its position in Nordson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock valued at $377,919,000 after acquiring an additional 14,780 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nordson by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after purchasing an additional 48,720 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Nordson by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 510,239 shares of the industrial products company’s stock worth $106,762,000 after purchasing an additional 28,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Nordson by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 459,710 shares of the industrial products company’s stock valued at $96,190,000 after purchasing an additional 7,355 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NDSN. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. BNP Paribas cut Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a research note on Monday, February 24th. KeyCorp raised Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research note on Tuesday, March 4th. Loop Capital raised Nordson from a “hold” rating to a “buy” rating and increased their price target for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Finally, Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.20.

Nordson Stock Up 0.3 %

Nordson stock opened at $206.55 on Thursday. The stock’s fifty day moving average is $213.49 and its two-hundred day moving average is $232.85. The stock has a market cap of $11.76 billion, a PE ratio of 26.28, a P/E/G ratio of 1.65 and a beta of 0.92. Nordson Co. has a 1-year low of $196.83 and a 1-year high of $279.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). The business had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. On average, sell-side analysts expect that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 20th. Nordson’s dividend payout ratio (DPR) is 39.69%.

Insider Buying and Selling

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares of the company’s stock, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by company insiders.

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.