Voya Investment Management LLC Purchases 5,609 Shares of Nordson Co. (NASDAQ:NDSN)

Voya Investment Management LLC increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 22.1% during the 4th quarter, Holdings Channel reports. The firm owned 30,962 shares of the industrial products company’s stock after purchasing an additional 5,609 shares during the quarter. Voya Investment Management LLC’s holdings in Nordson were worth $6,478,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NDSN. Vanguard Group Inc. increased its position in shares of Nordson by 1.5% during 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 last quarter. Geode Capital Management LLC increased its position in shares of Nordson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company’s stock valued at $303,918,000 after purchasing an additional 12,590 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Nordson by 2.9% in the 4th quarter. Champlain Investment Partners LLC now owns 860,430 shares of the industrial products company’s stock worth $180,036,000 after buying an additional 24,030 shares during the last quarter. FMR LLC grew its position in 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 buying an additional 111,538 shares during the period. Finally, Norges Bank purchased a new stake in Nordson during the fourth quarter worth about $142,670,000. 72.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp dropped their target price 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. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and upped their price objective for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.20.

Nordson Stock Performance

Shares of NDSN opened at $188.76 on Wednesday. Nordson Co. has a 12-month low of $165.03 and a 12-month high of $279.38. 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 $10.74 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The stock has a 50-day moving average price of $196.96 and a 200-day moving average price of $220.54.

Nordson (NASDAQ:NDSN) 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 return on equity of 19.28% and a net margin of 16.93%. The company had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. As a group, equities analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s dividend payout ratio (DPR) is presently 39.69%.

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.