Franklin Resources Inc. cut its stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,733 shares of the industrial products company's stock after selling 19,964 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Nordson worth $13,545,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its stake in shares of Nordson by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock worth $1,530,000 after purchasing an additional 49 shares during the last quarter. UMB Bank n.a. increased its stake in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after buying an additional 52 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position 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 buying an additional 56 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Nordson by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company's stock worth $884,000 after buying an additional 58 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Nordson by 4.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 66 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.
Nordson Price Performance
NDSN stock traded up $4.52 during midday trading on Friday, hitting $185.56. 622,407 shares of the stock were exchanged, compared to its average volume of 295,112. The stock's 50-day moving average price is $204.74 and its 200-day moving average price is $226.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.65 and a beta of 0.96. Nordson Co. has a fifty-two week low of $165.03 and a fifty-two week high of $279.38.
Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Research analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.
Nordson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Thursday, March 20th. Nordson's dividend payout ratio (DPR) is presently 39.69%.
Wall Street Analyst Weigh In
NDSN has been the subject of several analyst reports. Baird R W cut shares of Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Seaport Res Ptn raised Nordson from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target on the stock. in a research note on Monday, February 24th. DA Davidson cut their price objective on Nordson from $295.00 to $285.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Finally, KeyCorp decreased their target price on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $250.20.
Check Out Our Latest Research Report on Nordson
Nordson Company Profile
(
Free Report)
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.
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