Massachusetts Financial Services Co. MA Purchases 193,421 Shares of Nordson Co. (NASDAQ:NDSN)

Massachusetts Financial Services Co. MA increased its stake in shares of Nordson Co. (NASDAQ:NDSN) by 289.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,312 shares of the industrial products company’s stock after purchasing an additional 193,421 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.45% of Nordson worth $60,377,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Beacon Pointe Advisors LLC increased its position in Nordson by 4.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock worth $782,000 after purchasing an additional 133 shares in the last quarter. UBS Group AG increased its position in Nordson by 14.8% during the 4th quarter. UBS Group AG now owns 162,870 shares of the industrial products company’s stock worth $43,024,000 after purchasing an additional 21,016 shares in the last quarter. Bessemer Group Inc. increased its position in Nordson by 5,590.7% during the 1st quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock worth $1,343,000 after purchasing an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Nordson by 61.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 11,875 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Nordson during the 1st quarter worth approximately $1,562,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on NDSN. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Robert W. Baird upped their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $282.40.

Nordson Trading Up 1.7 %

NDSN opened at $260.03 on Friday. Nordson Co. has a twelve month low of $208.91 and a twelve month 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. The company has a fifty day moving average of $244.83 and a 200-day moving average of $249.97. The stock has a market cap of $14.89 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) 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 analyst estimates of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. Nordson’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 earnings per share. On average, sell-side analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

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

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.