Cary Street Partners Financial LLC Takes $173,000 Position in Nordson Co. (NASDAQ:NDSN)

Cary Street Partners Financial LLC bought a new stake in shares of Nordson Co. (NASDAQ:NDSN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 827 shares of the industrial products company’s stock, valued at approximately $173,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Nordson by 4.7% during the third quarter. Principal Financial Group Inc. now owns 295,962 shares of the industrial products company’s stock worth $77,723,000 after buying an additional 13,184 shares during the period. Nordea Investment Management AB boosted its stake in shares of Nordson by 16.8% during the 4th quarter. Nordea Investment Management AB now owns 7,334 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 1,053 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nordson by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 58 shares during the period. Czech National Bank grew its holdings in Nordson by 6.3% during the 4th quarter. Czech National Bank now owns 11,779 shares of the industrial products company’s stock valued at $2,465,000 after purchasing an additional 697 shares during the last quarter. Finally, Clark & Stuart Inc purchased a new stake in Nordson in the 4th quarter worth about $4,137,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Performance

Shares of NASDAQ:NDSN opened at $192.62 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The firm has a market cap of $10.96 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The firm’s 50 day simple moving average is $193.77 and its 200-day simple moving average is $216.77. Nordson Co. has a one year low of $165.03 and a one year high of $279.29.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. As a group, equities analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.62%. Nordson’s payout ratio is currently 39.69%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Loop Capital upgraded 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 report on Wednesday, January 22nd. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research note on Monday, February 24th. Finally, KeyCorp cut their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.20.

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.