The Manufacturers Life Insurance Company Has $8.37 Million Holdings in Nordson Co. (NASDAQ:NDSN)

The Manufacturers Life Insurance Company raised its position in Nordson Co. (NASDAQ:NDSN) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,099 shares of the industrial products company’s stock after purchasing an additional 473 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Nordson worth $8,373,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Nordson by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock valued at $1,680,769,000 after buying an additional 52,443 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Nordson by 2.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after purchasing an additional 68,810 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Nordson by 10.4% in the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock worth $258,764,000 after purchasing an additional 88,966 shares in the last quarter. American Century Companies Inc. boosted its holdings in Nordson by 2.7% during the second quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after purchasing an additional 15,947 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Nordson by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after purchasing an additional 11,809 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Price Performance

Shares of NDSN opened at $252.00 on Friday. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.06 and a beta of 0.90. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $249.18 and its 200 day simple moving average is $249.65. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38.

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, beating analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. During the same period in the prior year, the firm earned $2.35 EPS. Nordson’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts forecast that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 27th. This is a positive change from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.24%. Nordson’s payout ratio is presently 37.19%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price objective on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.00.

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.