Boston Financial Mangement LLC Sells 1,573 Shares of Nordson Co. (NASDAQ:NDSN)

Boston Financial Mangement LLC lowered its stake in shares of Nordson Co. (NASDAQ:NDSN) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,663 shares of the industrial products company’s stock after selling 1,573 shares during the quarter. Boston Financial Mangement LLC owned approximately 0.11% of Nordson worth $14,070,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NDSN. Norges Bank bought a new position in shares of Nordson in the 4th quarter valued at about $158,948,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Nordson by 1,579.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after purchasing an additional 326,690 shares during the last quarter. Swedbank AB bought a new position in shares of Nordson in the 1st quarter valued at about $48,044,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Nordson by 237.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after purchasing an additional 174,330 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Nordson by 24,445.4% in the 4th quarter. International Assets Investment Management LLC now owns 158,809 shares of the industrial products company’s stock valued at $41,951,000 after purchasing an additional 158,162 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 0.5 %

NDSN stock traded up $1.40 during mid-day trading on Friday, hitting $256.56. 252,504 shares of the company were exchanged, compared to its average volume of 244,961. 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 $14.69 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.97 and a beta of 0.91. The firm’s 50 day simple moving average is $239.15 and its 200 day simple moving average is $251.52. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.33 by $0.08. The firm had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $2.35 EPS. On average, sell-side analysts predict that Nordson Co. will post 9.52 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.78 per share. This is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is 37.19%.

Analyst Upgrades and Downgrades

NDSN has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. DA Davidson reduced their price objective on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.40.

Nordson 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.