ING Groep NV Invests $1.45 Million in Nordson Co. (NASDAQ:NDSN)

ING Groep NV bought a new stake in Nordson Co. (NASDAQ:NDSN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,938 shares of the industrial products company’s stock, valued at approximately $1,452,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Nordson by 7.2% in the third quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock valued at $692,916,000 after buying an additional 177,282 shares during the last quarter. International Assets Investment Management LLC raised its position in Nordson by 26,109.1% in the 3rd quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock valued at $27,327,000 after purchasing an additional 103,653 shares during the last quarter. Natixis Advisors LLC boosted its stake in Nordson by 71.0% during the 3rd quarter. Natixis Advisors LLC now owns 157,582 shares of the industrial products company’s stock worth $41,386,000 after purchasing an additional 65,436 shares during the period. Massachusetts Financial Services Co. MA grew its position in Nordson by 23.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock worth $84,499,000 after purchasing an additional 61,430 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nordson by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after purchasing an additional 48,720 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NDSN. Baird R W downgraded shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. DA Davidson decreased their price objective on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and upped their price target for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $237.00 price objective (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.33.

Nordson Price Performance

Shares of NDSN opened at $215.44 on Monday. The firm has a market capitalization of $12.30 billion, a PE ratio of 27.41, a P/E/G ratio of 1.65 and a beta of 0.95. The stock’s 50 day moving average is $213.85 and its two-hundred day moving average is $238.91. Nordson Co. has a twelve month low of $196.83 and a twelve 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.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The business had revenue of $615.42 million during the quarter, compared to analysts’ expectations of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. Research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.78 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.45%. Nordson’s dividend payout ratio is presently 39.69%.

Insider Activity at Nordson

In other Nordson news, EVP Stephen Lovass sold 317 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the transaction, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at approximately $1,738,159.50. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

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.