OppenheimerFunds Inc. cut its holdings in Nordson Co. (NASDAQ:NDSN) by 94.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,048 shares of the industrial products company’s stock after selling 72,161 shares during the period. OppenheimerFunds Inc.’s holdings in Nordson were worth $593,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NDSN. Advisory Services Network LLC boosted its holdings in Nordson by 972.7% in the 4th quarter. Advisory Services Network LLC now owns 1,062 shares of the industrial products company’s stock worth $155,000 after buying an additional 963 shares during the period. Quantbot Technologies LP boosted its holdings in Nordson by 1,168.2% in the 3rd quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 1,507 shares during the period. IPG Investment Advisors LLC bought a new position in Nordson in the 4th quarter valued at $220,000. Capital Asset Advisory Services LLC bought a new position in Nordson in the 4th quarter valued at $234,000. Finally, Raymond James Trust N.A. bought a new position in Nordson in the 4th quarter valued at $249,000. 66.70% of the stock is owned by institutional investors.
NDSN has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. B. Riley reissued a “buy” rating and issued a $160.00 price target on shares of Nordson in a report on Wednesday, December 13th. Robert W. Baird reissued a “neutral” rating on shares of Nordson in a report on Friday, February 23rd. KeyCorp reissued a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Nordson in a report on Wednesday, January 3rd. Finally, BidaskClub downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $152.40.
Shares of NDSN stock opened at $141.89 on Wednesday. Nordson Co. has a fifty-two week low of $107.16 and a fifty-two week high of $151.84. The company has a current ratio of 1.52, a quick ratio of 1.07 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8,088.35, a price-to-earnings ratio of 23.81, a PEG ratio of 1.65 and a beta of 1.32.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. Nordson had a net margin of 15.85% and a return on equity of 30.41%. The company had revenue of $550.42 million during the quarter, compared to the consensus estimate of $538.21 million. During the same period in the previous year, the firm posted $0.86 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. research analysts predict that Nordson Co. will post 6.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio is currently 20.00%.
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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