Inspire Investing LLC Cuts Stake in Nordson Co. (NASDAQ:NDSN)

Inspire Investing LLC cut its stake in Nordson Co. (NASDAQ:NDSN) by 15.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,406 shares of the industrial products company’s stock after selling 1,201 shares during the quarter. Inspire Investing LLC’s holdings in Nordson were worth $1,486,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its position in shares of Nordson by 0.4% during the fourth quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock worth $2,820,000 after acquiring an additional 40 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Nordson by 0.3% during the first quarter. Retirement Systems of Alabama now owns 11,976 shares of the industrial products company’s stock worth $3,288,000 after acquiring an additional 40 shares during the last quarter. Everpar Advisors LLC increased its position in shares of Nordson by 2.1% during the second quarter. Everpar Advisors LLC now owns 2,021 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 42 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Nordson by 0.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after acquiring an additional 47 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Nordson by 0.6% during the second quarter. Van ECK Associates Corp now owns 7,724 shares of the industrial products company’s stock worth $1,792,000 after acquiring an additional 49 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Stock Up 1.7 %

Shares of Nordson stock opened at $260.03 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.89 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.00 and a beta of 0.90. Nordson Co. has a fifty-two week low of $208.91 and a fifty-two week high of $279.38. The business has a 50-day moving average price of $244.83 and a 200 day moving average price of $249.97.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. During the same period in the previous year, the firm posted $2.35 earnings per share. Nordson’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $0.78 dividend. This is an increase from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s payout ratio is presently 37.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NDSN. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Robert W. Baird boosted their price objective on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and a consensus price target of $282.40.

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.