KLP Kapitalforvaltning AS Acquires Shares of 18,200 Nordson Co. (NASDAQ:NDSN)

KLP Kapitalforvaltning AS bought a new position in shares of Nordson Co. (NASDAQ:NDSN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,200 shares of the industrial products company’s stock, valued at approximately $3,808,000.

A number of other institutional investors have also recently modified their holdings of NDSN. Pathstone Holdings LLC grew its holdings in Nordson by 2.8% in the third quarter. Pathstone Holdings LLC now owns 7,384 shares of the industrial products company’s stock valued at $1,939,000 after purchasing an additional 203 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nordson in the 3rd quarter valued at $1,424,000. Advisors Asset Management Inc. increased its holdings in Nordson by 17.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,556 shares of the industrial products company’s stock worth $671,000 after acquiring an additional 385 shares in the last quarter. Citigroup Inc. raised its position in Nordson by 2.0% during the third quarter. Citigroup Inc. now owns 63,254 shares of the industrial products company’s stock worth $16,612,000 after acquiring an additional 1,264 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Nordson by 16.0% during the third quarter. Cerity Partners LLC now owns 14,499 shares of the industrial products company’s stock valued at $3,808,000 after purchasing an additional 1,998 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Performance

NASDAQ NDSN opened at $206.55 on Thursday. 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 stock’s fifty day moving average is $213.49 and its two-hundred day moving average is $232.85. The firm has a market capitalization of $11.76 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. Nordson Co. has a fifty-two week low of $196.83 and a fifty-two week high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data 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). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to analysts’ expectations of $639.40 million. On average, research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, March 20th. Nordson’s payout ratio is presently 39.69%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research report on Monday, February 24th. Robert W. Baird reissued a “neutral” rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. Baird R W downgraded Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and boosted their price target for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Finally, DA Davidson decreased their price objective on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $256.20.

Insider Activity at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now owns 7,347 shares in the company, valued at $1,519,286.13. The trade was a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by 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.