Nordson Co. (NASDAQ:NDSN) Stake Lifted by Financial Advocates Investment Management

Financial Advocates Investment Management increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600 shares of the industrial products company’s stock after purchasing an additional 110 shares during the period. Financial Advocates Investment Management’s holdings in Nordson were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Nordson in the 2nd quarter worth $27,000. Tortoise Investment Management LLC raised its position in Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 58 shares in the last quarter. Blue Trust Inc. lifted its holdings in Nordson by 130.0% in the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Nordson during the 2nd quarter valued at about $46,000. Finally, UMB Bank n.a. grew its stake in shares of Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 191 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the sale, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their target price on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $299.00.

Nordson Trading Up 0.5 %

NASDAQ:NDSN opened at $249.03 on Friday. The stock has a fifty day simple moving average of $253.72 and a 200 day simple moving average of $247.17. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. Nordson Co. has a 1-year low of $213.04 and a 1-year high of $279.38. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49.

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

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, August 27th. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is 38.00%.

Nordson Company 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.