Vanguard Group Inc. increased its position in Nordson Corporation (NASDAQ:NDSN – Free Report) by 3.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,257,600 shares of the industrial products company’s stock after buying an additional 186,480 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Nordson worth $1,504,515,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of NDSN. Private Trust Co. NA lifted its stake in Nordson by 70.8% in the 4th quarter. Private Trust Co. NA now owns 123 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Nordson in the 2nd quarter worth $31,000. Quent Capital LLC purchased a new stake in Nordson in the 3rd quarter worth $32,000. MUFG Securities EMEA plc purchased a new stake in Nordson in the 2nd quarter worth $34,000. Finally, Root Financial Partners LLC purchased a new stake in Nordson in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.
Nordson Price Performance
Shares of NDSN stock opened at $288.45 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.74. The company has a market capitalization of $16.09 billion, a P/E ratio of 31.15, a P/E/G ratio of 1.89 and a beta of 1.01. The company’s 50-day simple moving average is $276.07 and its two-hundred day simple moving average is $259.39. Nordson Corporation has a one year low of $187.24 and a one year high of $305.28.
Nordson Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Thursday, March 19th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, March 19th. Nordson’s dividend payout ratio (DPR) is 35.42%.
Insider Activity
In other news, EVP Srinivas Subramanian sold 3,100 shares of Nordson stock in a transaction on Friday, April 17th. The shares were sold at an average price of $280.00, for a total transaction of $868,000.00. Following the completion of the sale, the executive vice president directly owned 6,407 shares in the company, valued at approximately $1,793,960. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundaram Nagarajan sold 41,800 shares of Nordson stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $293.26, for a total transaction of $12,258,268.00. Following the sale, the chief executive officer owned 64,824 shares of the company’s stock, valued at $19,010,286.24. The trade was a 39.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,393 shares of company stock valued at $22,549,703 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have commented on NDSN. DA Davidson set a $335.00 price target on shares of Nordson in a research note on Monday, February 23rd. KeyCorp upped their target price on shares of Nordson from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Robert W. Baird upped their target price on shares of Nordson from $278.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Oppenheimer upped their target price on shares of Nordson from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nordson in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and a consensus price target of $311.50.
Check Out Our Latest Stock Analysis on Nordson
About Nordson
Nordson Corporation designs, manufactures and markets precision dispensing equipment and systems that apply adhesives, coatings, sealants and polymers in a broad range of industrial and medical applications. The company’s portfolio spans fluid systems, curing and surface preparation technologies, vacuum and thermal management products, and advanced test and inspection solutions. Nordson’s offerings serve critical manufacturing processes by delivering exacting dispensing accuracy and process control to ensure consistent product performance and high production throughput.
Nordson operates through multiple segments that cater to diverse markets including electronics, packaging, medical, energy, automotive and general industrial sectors.
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