First Trust Advisors LP boosted its position in shares of Nordson Corporation (NASDAQ:NDSN) by 14.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,168 shares of the industrial products company’s stock after buying an additional 30,263 shares during the period. First Trust Advisors LP owned 0.40% of Nordson Corporation worth $28,288,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Meritage Portfolio Management bought a new position in shares of Nordson Corporation during the first quarter valued at $6,011,000. Acadian Asset Management LLC bought a new position in shares of Nordson Corporation during the first quarter valued at $273,000. ProShare Advisors LLC raised its position in shares of Nordson Corporation by 21.7% in the first quarter. ProShare Advisors LLC now owns 84,171 shares of the industrial products company’s stock valued at $10,340,000 after buying an additional 15,030 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Nordson Corporation by 1.2% in the first quarter. Nationwide Fund Advisors now owns 89,351 shares of the industrial products company’s stock valued at $10,976,000 after buying an additional 1,080 shares during the last quarter. Finally, CAPROCK Group Inc. bought a new position in shares of Nordson Corporation during the first quarter valued at $235,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Nordson Corporation (NASDAQ NDSN) opened at 128.51 on Wednesday. Nordson Corporation has a 52-week low of $89.87 and a 52-week high of $131.49. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 27.09 and a beta of 1.35. The company’s 50-day moving average is $124.38 and its 200-day moving average is $122.30.
Nordson Corporation (NASDAQ:NDSN) last issued its quarterly earnings results on Monday, May 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The company had revenue of $496.14 million for the quarter, compared to the consensus estimate of $470.12 million. Nordson Corporation had a net margin of 14.43% and a return on equity of 33.39%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. On average, analysts expect that Nordson Corporation will post $5.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 22nd will be issued a $0.30 dividend. This is an increase from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, August 18th. Nordson Corporation’s payout ratio is 22.78%.
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Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 19th. Wells Fargo & Company reissued a “market perform” rating and issued a $130.00 price objective (up from $122.00) on shares of Nordson Corporation in a research report on Thursday, May 25th. BidaskClub raised shares of Nordson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Wellington Shields raised shares of Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Friday, June 2nd. Finally, FBR & Co reissued an “outperform” rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Nordson Corporation currently has a consensus rating of “Buy” and an average price target of $115.50.
Nordson Corporation Company Profile
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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