Bank of New York Mellon Corp Raises Stake in Nordson Co. (NASDAQ:NDSN)

Bank of New York Mellon Corp grew its stake in shares of Nordson Co. (NASDAQ:NDSN) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 510,239 shares of the industrial products company’s stock after purchasing an additional 28,967 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Nordson worth $106,762,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Nordson by 13.4% in the 4th quarter. IFP Advisors Inc now owns 975 shares of the industrial products company’s stock worth $206,000 after buying an additional 115 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its position in shares of Nordson by 0.3% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 152,229 shares of the industrial products company’s stock worth $31,852,000 after buying an additional 469 shares in the last quarter. World Equity Group Inc. purchased a new stake in shares of Nordson in the 4th quarter worth about $233,000. Navellier & Associates Inc. boosted its position in shares of Nordson by 15.6% in the 4th quarter. Navellier & Associates Inc. now owns 1,848 shares of the industrial products company’s stock worth $387,000 after buying an additional 250 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Nordson in the 4th quarter worth about $1,452,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Stephen Lovass sold 1,299 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the transaction, the executive vice president now owns 7,347 shares of the company’s stock, valued at $1,519,286.13. This represents a 15.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.80% of the company’s stock.

Nordson Trading Up 0.4 %

Shares of NDSN stock opened at $210.29 on Friday. The firm has a 50-day moving average price of $213.43 and a 200 day moving average price of $238.06. Nordson Co. has a twelve month low of $196.83 and a twelve month high of $279.38. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.65 and a beta of 0.95. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 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 company had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Research analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, January 2nd. Nordson’s dividend payout ratio is currently 39.69%.

Analysts Set New Price Targets

Several research firms recently commented on NDSN. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and boosted their target price for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research note on Monday, February 24th. DA Davidson cut their target price on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Seaport Res Ptn raised shares of Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nordson presently has an average rating of “Moderate Buy” and a consensus target price of $255.25.

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.