Principal Financial Group Inc. Increases Stake in Nordson Co. (NASDAQ:NDSN)

Principal Financial Group Inc. raised its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 4.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 295,962 shares of the industrial products company's stock after purchasing an additional 13,184 shares during the period. Principal Financial Group Inc. owned 0.52% of Nordson worth $77,723,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in Nordson in the second quarter valued at about $27,000. Tortoise Investment Management LLC grew its position in shares of Nordson by 70.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company's stock worth $32,000 after buying an additional 58 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company's stock worth $42,000 after acquiring an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Nordson during the second quarter valued at approximately $46,000. Finally, UMB Bank n.a. boosted its stake in Nordson by 2,387.5% in the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their price target on Nordson from $272.00 to $287.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $299.00.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the sale, the executive vice president now owns 8,659 shares in the company, valued at $2,164,576.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company's stock.

Nordson Stock Up 0.3 %

Shares of NDSN traded up $0.87 during mid-day trading on Friday, hitting $261.44. 165,302 shares of the company traded hands, compared to its average volume of 201,573. The company has a market capitalization of $14.95 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $253.84 and a 200 day moving average of $246.87. Nordson Co. has a 1-year low of $220.69 and a 1-year high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.08. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. Nordson's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Equities research analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $0.78 dividend. The ex-dividend date was Tuesday, August 27th. This is a positive change from Nordson's previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.19%. Nordson's dividend payout ratio is currently 38.00%.

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.