Bank of Nova Scotia Acquires 16,388 Shares of Nordson Co. (NASDAQ:NDSN)

Bank of Nova Scotia grew its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 235.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,350 shares of the industrial products company's stock after purchasing an additional 16,388 shares during the period. Bank of Nova Scotia's holdings in Nordson were worth $4,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NDSN. Vanguard Group Inc. boosted its stake in Nordson by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company's stock valued at $1,302,887,000 after acquiring an additional 93,146 shares during the period. Geode Capital Management LLC lifted its stake in Nordson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company's stock valued at $303,918,000 after buying an additional 12,590 shares during the last quarter. FMR LLC boosted its holdings in shares of Nordson by 19.2% during the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company's stock valued at $145,135,000 after acquiring an additional 111,538 shares during the period. Norges Bank bought a new position in Nordson in the 4th quarter worth about $142,670,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Nordson by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company's stock valued at $135,138,000 after purchasing an additional 48,720 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp cut their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. BNP Paribas cut shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a report on Monday, February 24th. Seaport Res Ptn raised Nordson from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, Loop Capital upgraded shares of Nordson from a "hold" rating to a "buy" rating and lifted their price target for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Four equities research 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $250.20.

Nordson Stock Down 0.7 %

NASDAQ:NDSN traded down $1.36 on Tuesday, hitting $183.09. 272,338 shares of the company's stock traded hands, compared to its average volume of 295,936. The firm has a 50-day moving average price of $204.11 and a 200-day moving average price of $225.81. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The company has a market cap of $10.42 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. Nordson Co. has a 1 year low of $165.03 and a 1 year high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. Equities analysts anticipate that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.70%. Nordson's dividend payout ratio (DPR) is currently 39.69%.

Nordson Company 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.