Charles Schwab Investment Management Inc. Boosts Stock Position in Nordson Co. (NASDAQ:NDSN)

Charles Schwab Investment Management Inc. grew its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 459,710 shares of the industrial products company's stock after purchasing an additional 7,355 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of Nordson worth $96,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of Nordson by 18.8% in the third quarter. Covestor Ltd now owns 272 shares of the industrial products company's stock worth $72,000 after buying an additional 43 shares in the last quarter. QRG Capital Management Inc. increased its stake in Nordson by 3.5% in the 3rd quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company's stock worth $380,000 after acquiring an additional 49 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Nordson by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock worth $1,530,000 after acquiring an additional 49 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Nordson by 26.1% in the fourth 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 in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its position in Nordson by 1.7% in the fourth 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. 72.11% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Nordson Trading Down 0.6 %

NASDAQ NDSN traded down $1.26 during trading on Wednesday, hitting $204.75. The stock had a trading volume of 325,300 shares, compared to its average volume of 353,804. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.65 and a beta of 0.92. The stock has a 50 day simple moving average of $213.20 and a 200 day simple moving average of $236.09. Nordson Co. has a one year low of $196.83 and a one year high of $279.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data 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). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million for the quarter, compared to analysts' expectations of $639.40 million. Sell-side analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.52%. Nordson's payout ratio is currently 39.69%.

Insider Buying and Selling at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares in the company, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NDSN has been the subject of several research reports. Robert W. Baird reiterated a "neutral" rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. BNP Paribas downgraded 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. Seaport Res Ptn upgraded Nordson from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. DA Davidson decreased their price objective on Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Finally, KeyCorp upgraded Nordson from a "sector weight" rating to an "overweight" rating and set a $260.00 target price for the company in a report on Tuesday, March 4th. Four investment 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.20.

About Nordson

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.