Mcdaniel Terry & Co. cut its position in shares of Nordson Co. (NASDAQ:NDSN) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,873 shares of the industrial products company’s stock after selling 231 shares during the quarter. Nordson makes up 5.5% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 3rd largest position. Mcdaniel Terry & Co. owned about 0.37% of Nordson worth $47,386,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantitative Systematic Strategies LLC purchased a new stake in shares of Nordson during the second quarter worth about $648,000. Eagle Asset Management Inc. grew its holdings in shares of Nordson by 23.8% during the second quarter. Eagle Asset Management Inc. now owns 14,590 shares of the industrial products company’s stock worth $3,202,000 after buying an additional 2,804 shares in the last quarter. Deutsche Bank AG grew its holdings in Nordson by 12.3% in the second quarter. Deutsche Bank AG now owns 49,089 shares of the industrial products company’s stock valued at $10,775,000 after purchasing an additional 5,395 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Nordson in the second quarter valued at approximately $280,000. Finally, People s United Financial Inc. grew its holdings in Nordson by 0.5% in the second quarter. People s United Financial Inc. now owns 9,238 shares of the industrial products company’s stock valued at $2,028,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 68.47% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Seaport Res Ptn restated a “neutral” rating on shares of Nordson in a report on Tuesday, May 25th. DA Davidson lifted their price target on shares of Nordson from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, August 31st. Morgan Stanley lifted their price target on shares of Nordson from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 26th. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $233.00 price target on the stock. in a research report on Wednesday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Nordson from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson has an average rating of “Hold” and an average price target of $252.00.
NDSN traded down $1.64 during trading on Tuesday, hitting $239.09. The company had a trading volume of 670 shares, compared to its average volume of 228,933. The company has a market cap of $13.89 billion, a PE ratio of 39.02, a P/E/G ratio of 2.33 and a beta of 0.98. The business has a 50-day moving average of $230.95 and a 200-day moving average of $217.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.48 and a quick ratio of 1.76. Nordson Co. has a 1-year low of $178.60 and a 1-year high of $245.90.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Sunday, August 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.34. The firm had revenue of $646.86 million for the quarter, compared to analysts’ expectations of $604.27 million. Nordson had a net margin of 15.61% and a return on equity of 22.91%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. Research analysts forecast that Nordson Co. will post 7.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Tuesday, August 24th were paid a dividend of $0.51 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, August 23rd. This represents a $2.04 annualized dividend and a yield of 0.85%. Nordson’s payout ratio is presently 37.23%.
Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through three segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.
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