PNC Financial Services Group Inc. Acquires 610 Shares of Nordson Co. (NASDAQ:NDSN)

PNC Financial Services Group Inc. grew its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,794 shares of the industrial products company’s stock after purchasing an additional 610 shares during the period. PNC Financial Services Group Inc.’s holdings in Nordson were worth $2,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in Nordson by 7.2% in the third quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock valued at $692,916,000 after purchasing an additional 177,282 shares in the last quarter. Geode Capital Management LLC grew its position in Nordson by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock worth $377,919,000 after acquiring an additional 14,780 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nordson by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock valued at $135,138,000 after acquiring an additional 48,720 shares during the last quarter. Bank of New York Mellon Corp raised its position in Nordson by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 510,239 shares of the industrial products company’s stock valued at $106,762,000 after purchasing an additional 28,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nordson by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 459,710 shares of the industrial products company’s stock worth $96,190,000 after purchasing an additional 7,355 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 2.7 %

Shares of NASDAQ:NDSN opened at $207.40 on Friday. The stock’s 50-day moving average is $213.13 and its 200 day moving average is $235.50. The company has a market cap of $11.80 billion, a PE ratio of 26.39, a P/E/G ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. Nordson Co. has a 1 year low of $196.83 and a 1 year high of $279.38.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. Sell-side analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.50%. Nordson’s dividend payout ratio is 39.69%.

Analyst Ratings Changes

NDSN has been the topic of several recent research reports. Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. BNP Paribas cut shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Loop Capital raised Nordson from a “hold” rating to a “buy” rating and raised their price objective for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, KeyCorp upgraded Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nordson has an average rating of “Moderate Buy” and an average target price of $256.20.

Insider Activity

In other news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 7,347 shares of the company’s stock, valued at approximately $1,519,286.13. This represents a 15.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% 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.