Principal Financial Group Inc. Raises Stock Position in Nordson Co. (NASDAQ:NDSN)

Principal Financial Group Inc. raised its stake in Nordson Co. (NASDAQ:NDSN) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,962 shares of the industrial products company’s stock after buying an additional 13,184 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of Nordson worth $77,723,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NDSN. Ashton Thomas Private Wealth LLC purchased a new position in Nordson in the second quarter valued at about $27,000. Tortoise Investment Management LLC increased its stake in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. boosted its position in Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Nordson during the second quarter worth approximately $46,000. Finally, UMB Bank n.a. boosted its position in Nordson by 2,387.5% during the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 191 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Stock Up 0.3 %

Shares of NASDAQ NDSN opened at $261.44 on Friday. Nordson Co. has a 1 year low of $220.69 and a 1 year high of $279.38. The firm’s 50 day moving average price is $253.84 and its 200 day moving average price is $246.96. The firm has a market cap of $14.95 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. The company 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $2.35 EPS. As a group, sell-side analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current 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 issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, August 27th. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is 38.00%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and a consensus price target of $299.00.

Insider Buying and Selling at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by company insiders.

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.