QRG Capital Management Inc. Acquires 49 Shares of Nordson Co. (NASDAQ:NDSN)

QRG Capital Management Inc. grew its holdings in Nordson Co. (NASDAQ:NDSN) by 3.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,447 shares of the industrial products company’s stock after buying an additional 49 shares during the quarter. QRG Capital Management Inc.’s holdings in Nordson were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Asset Management One Co. Ltd. lifted its holdings in Nordson by 2.0% during the third quarter. Asset Management One Co. Ltd. now owns 40,606 shares of the industrial products company’s stock worth $10,656,000 after buying an additional 800 shares during the period. Roman Butler Fullerton & Co. bought a new position in shares of Nordson in the 3rd quarter worth $216,000. Van ECK Associates Corp lifted its stake in shares of Nordson by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 8,575 shares of the industrial products company’s stock worth $2,143,000 after purchasing an additional 851 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Nordson by 110.5% in the third quarter. Harbor Capital Advisors Inc. now owns 6,371 shares of the industrial products company’s stock valued at $1,673,000 after purchasing an additional 3,345 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Nordson by 4.5% in the third quarter. Janney Montgomery Scott LLC now owns 131,579 shares of the industrial products company’s stock worth $34,557,000 after purchasing an additional 5,656 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Stock Up 0.3 %

Nordson stock opened at $261.44 on Monday. Nordson Co. has a 1-year low of $220.69 and a 1-year high of $279.38. The business has a fifty day moving average price of $253.84 and a 200-day moving average price of $246.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.94 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last issued its quarterly 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. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. During the same quarter last year, the company earned $2.35 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.19%. Nordson’s dividend payout ratio is presently 38.00%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.