Ameriprise Financial Inc. Raises Position in Nordson Corp. (NDSN)
Ameriprise Financial Inc. increased its position in shares of Nordson Corp. (NASDAQ:NDSN) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,595 shares of the company’s stock after buying an additional 24,400 shares during the period. Ameriprise Financial Inc. owned 0.33% of Nordson Corp. worth $15,935,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Parametrica Management Ltd bought a new stake in shares of Nordson Corp. during the first quarter worth $234,000. Prudential Financial Inc. raised its stake in Nordson Corp. by 21.3% in the first quarter. Prudential Financial Inc. now owns 55,921 shares of the company’s stock worth $4,252,000 after buying an additional 9,830 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Nordson Corp. by 3,576.1% in the second quarter. BNP Paribas Arbitrage SA now owns 21,248 shares of the company’s stock worth $1,777,000 after buying an additional 20,670 shares in the last quarter. GW&K Investment Management LLC raised its stake in Nordson Corp. by 18.0% in the second quarter. GW&K Investment Management LLC now owns 115,782 shares of the company’s stock worth $9,681,000 after buying an additional 17,656 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Nordson Corp. during the second quarter worth approximately $891,000. 64.61% of the stock is owned by institutional investors and hedge funds.
Shares of Nordson Corp. (NASDAQ:NDSN) traded down 2.34% during trading on Friday, hitting $98.63. 104,885 shares of the stock were exchanged. Nordson Corp. has a 52 week low of $51.89 and a 52 week high of $102.20. The firm’s 50 day moving average price is $95.71 and its 200-day moving average price is $84.72. The stock has a market cap of $5.64 billion, a P/E ratio of 23.25 and a beta of 1.34.
Nordson Corp. (NASDAQ:NDSN) last issued its earnings results on Monday, August 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.14. The business had revenue of $489.89 million for the quarter. Nordson Corp. had a net margin of 14.07% and a return on equity of 34.16%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. On average, analysts predict that Nordson Corp. will post $4.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Nordson Corp.’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 19th. Nordson Corp.’s dividend payout ratio (DPR) is 25.41%.
A number of analysts have commented on NDSN shares. Zacks Investment Research lowered shares of Nordson Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $106.00 target price (up previously from $98.00) on shares of Nordson Corp. in a report on Thursday, August 25th. Royal Bank Of Canada lowered their target price on shares of Nordson Corp. from $106.00 to $98.00 and set a “sector perform” rating for the company in a report on Wednesday, August 24th. Wunderlich lifted their target price on shares of Nordson Corp. from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $92.00 target price (up previously from $83.00) on shares of Nordson Corp. in a report on Thursday, May 26th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $103.90.
In other Nordson Corp. news, insider Gregory P. Merk sold 19,800 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $100.24, for a total value of $1,984,752.00. Following the transaction, the insider now directly owns 59,715 shares of the company’s stock, valued at $5,985,831.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Douglas C. Bloomfield sold 3,532 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $99.00, for a total transaction of $349,668.00. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.
Nordson Corp. Company Profile
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