Alliancebernstein L.P. Reduces Stake in Nordson Co. (NASDAQ:NDSN)

Alliancebernstein L.P. lowered its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 60,036 shares of the industrial products company's stock after selling 1,839 shares during the period. Alliancebernstein L.P. owned about 0.11% of Nordson worth $12,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NDSN. New York Life Investment Management LLC grew its position in shares of Nordson by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock valued at $1,530,000 after buying an additional 49 shares during the last quarter. UMB Bank n.a. increased its position in Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 52 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its holdings in Nordson by 1.7% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company's stock worth $692,000 after purchasing an additional 56 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Nordson by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company's stock worth $884,000 after purchasing an additional 58 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Nordson by 4.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. KeyCorp cut their price target on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Seaport Res Ptn raised Nordson from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Loop Capital upgraded shares of Nordson from a "hold" rating to a "buy" rating and boosted their target price for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Finally, BNP Paribas cut shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target for the company. in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nordson presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.20.

Nordson Stock Up 0.4 %

NDSN stock traded up $0.65 during midday trading on Tuesday, reaching $185.10. 47,660 shares of the company's stock traded hands, compared to its average volume of 295,081. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The firm's fifty day moving average price is $204.11 and its 200-day moving average price is $225.81. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 1.65 and a beta of 0.96. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). The company had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. As a group, sell-side analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.69%. Nordson's dividend payout ratio (DPR) is currently 39.69%.

Nordson 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.