Stoneridge Investment Partners LLC Acquires Shares of 6,626 Nordson Co. (NASDAQ:NDSN)

Stoneridge Investment Partners LLC bought a new position in shares of Nordson Co. (NASDAQ:NDSN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,626 shares of the industrial products company’s stock, valued at approximately $1,537,000.

Several other hedge funds have also modified their holdings of NDSN. Beacon Pointe Advisors LLC boosted its position in Nordson by 4.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock valued at $782,000 after buying an additional 133 shares during the last quarter. UBS Group AG increased its position in Nordson by 14.8% in the fourth quarter. UBS Group AG now owns 162,870 shares of the industrial products company’s stock worth $43,024,000 after purchasing an additional 21,016 shares during the period. Bessemer Group Inc. raised its holdings in Nordson by 5,590.7% during the 1st quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock worth $1,343,000 after purchasing an additional 4,808 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Nordson by 61.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock valued at $7,224,000 after purchasing an additional 11,875 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in shares of Nordson in the 1st quarter valued at about $1,562,000. 72.11% of the stock is owned by institutional investors.

Nordson Stock Performance

NDSN stock opened at $251.81 on Friday. Nordson Co. has a 1-year low of $208.91 and a 1-year high of $279.38. The business’s 50-day moving average price is $243.18 and its two-hundred day moving average price is $250.34. The firm has a market cap of $14.42 billion, a PE ratio of 30.01, a P/E/G ratio of 2.00 and a beta of 0.90. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.08. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. Nordson’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.35 EPS. As a group, research analysts forecast that Nordson Co. will post 9.55 earnings per share 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 given a dividend of $0.78 per share. This is a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio is currently 37.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Robert W. Baird increased their target price on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, DA Davidson lowered their price target on Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.40.

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.