Nordson Co. (NASDAQ:NDSN) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Nordson Co. (NASDAQ:NDSN) by 39.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,648 shares of the industrial products company’s stock after purchasing an additional 1,875 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nordson were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bessemer Group Inc. lifted its stake in shares of Nordson by 5,590.7% in the first quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock worth $1,343,000 after acquiring an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of 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 valued at $7,224,000 after buying an additional 11,875 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Nordson during the first quarter worth approximately $1,562,000. Cetera Investment Advisers increased its stake in shares of Nordson by 422.3% in the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after buying an additional 11,625 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Nordson by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 123,965 shares of the industrial products company’s stock valued at $34,033,000 after acquiring an additional 3,969 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Buying and Selling

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 transaction of $749,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

Nordson Stock Performance

NDSN stock opened at $247.89 on Friday. The stock’s 50 day simple moving average is $254.05 and its 200 day simple moving average is $247.27. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38. The firm has a market cap of $14.17 billion, a P/E ratio of 30.19, a P/E/G ratio of 2.00 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.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping 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 company earned $2.35 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio is presently 38.00%.

Wall Street Analyst Weigh In

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

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.