Norges Bank Buys Shares of 681,848 Nordson Co. (NASDAQ:NDSN)

Norges Bank acquired a new stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 681,848 shares of the industrial products company's stock, valued at approximately $142,670,000. Norges Bank owned about 1.19% of Nordson as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in NDSN. New York Life Investment Management LLC increased its holdings in 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 period. UMB Bank n.a. lifted its holdings in shares of Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock worth $53,000 after acquiring an additional 52 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of 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 valued at $692,000 after acquiring an additional 56 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Nordson by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company's stock valued at $884,000 after acquiring an additional 58 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Nordson by 4.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company's stock worth $312,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

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Insider Activity

In related news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the transaction, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. This represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company's stock.

Nordson Price Performance

Shares of NASDAQ NDSN traded down $9.66 during trading on Friday, reaching $176.73. The company had a trading volume of 707,519 shares, compared to its average volume of 284,054. Nordson Co. has a 52 week low of $173.36 and a 52 week high of $279.38. The business's 50 day moving average price is $210.54 and its 200-day moving average price is $230.39. The stock has a market cap of $10.06 billion, a PE ratio of 22.48, a PEG ratio of 1.65 and a beta of 0.96. 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 the consensus estimate of $2.08 by ($0.02). The firm had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Analysts expect that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.77%. Nordson's payout ratio is presently 39.69%.

Analyst Ratings Changes

A number of analysts have weighed in on NDSN shares. Loop Capital upgraded Nordson from a "hold" rating to a "buy" rating and upped their price target for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. DA Davidson lowered their target price on shares of Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, December 13th. KeyCorp raised shares of Nordson from a "sector weight" rating to an "overweight" rating and set a $260.00 price target for the company in a report on Tuesday, March 4th. Baird R W lowered shares of Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Finally, BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 target price on the stock. 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.20.

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.