Nordson Co. (NASDAQ:NDSN) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 443.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,255 shares of the industrial products company's stock after buying an additional 5,103 shares during the period. Canada Pension Plan Investment Board's holdings in Nordson were worth $1,309,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. UMB Bank n.a. boosted its holdings 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 acquiring an additional 52 shares during the period. Tortoise Investment Management LLC boosted its stake in shares of Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 115 shares during the period. Brooklyn Investment Group grew its holdings in shares of Nordson by 695.0% in the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company's stock worth $67,000 after purchasing an additional 278 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in Nordson in the 4th quarter worth about $92,000. Finally, Generali Asset Management SPA SGR bought a new stake in Nordson during the 4th quarter valued at about $98,000. Institutional investors own 72.11% of the company's stock.

Nordson Stock Down 0.6 %

Shares of NASDAQ NDSN traded down $1.23 during midday trading on Friday, reaching $188.22. 219,632 shares of the company's stock traded hands, compared to its average volume of 301,848. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 1.65 and a beta of 0.96. Nordson Co. has a one year low of $165.03 and a one year high of $279.38. 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 stock's 50 day simple moving average is $198.13 and its 200-day simple moving average is $221.46.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.08 by ($0.02). The company had revenue of $615.42 million during the quarter, compared to analysts' expectations of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. On average, analysts predict that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Thursday, March 20th. Nordson's payout ratio is 39.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NDSN shares. BNP Paribas lowered shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 target price on the stock. in a research report on Monday, February 24th. Loop Capital upgraded Nordson from a "hold" rating to a "buy" rating and raised their price objective for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. Finally, KeyCorp lowered their target price on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $250.20.

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.