Peninsula Asset Management Inc. Trims Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Peninsula Asset Management Inc. lowered its position in Nordson Co. (NASDAQ:NDSN) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,695 shares of the industrial products company’s stock after selling 1,180 shares during the quarter. Nordson makes up about 1.5% of Peninsula Asset Management Inc.’s portfolio, making the stock its 24th biggest position. Peninsula Asset Management Inc.’s holdings in Nordson were worth $2,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. UMB Bank n.a. increased its holdings in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 52 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of Nordson by 73.7% during the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock valued at $57,000 after buying an additional 115 shares during the period. Brooklyn Investment Group grew its holdings in shares of Nordson by 695.0% during the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 278 shares during the period. Quarry LP acquired a new stake in shares of Nordson during the third quarter valued at about $109,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Nordson during the third quarter worth $203,000. 72.11% of the stock is currently owned by institutional investors.

Nordson Price Performance

NASDAQ NDSN opened at $207.40 on Friday. The stock has a 50-day simple moving average of $213.13 and a 200 day simple moving average of $235.50. The stock has a market capitalization of $11.80 billion, a PE ratio of 26.39, a P/E/G ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. Nordson Co. has a twelve month low of $196.83 and a twelve month high of $279.38.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results 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 net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Research analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.78 dividend. The ex-dividend date is Thursday, March 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.50%. Nordson’s dividend payout ratio is presently 39.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NDSN shares. Robert W. Baird restated a “neutral” rating and set a $237.00 target price (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson decreased their target price on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock 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. Finally, Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and upped their target price for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.20.

Insiders Place Their Bets

In other news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the sale, the executive vice president now directly owns 7,347 shares in the company, valued at approximately $1,519,286.13. The trade was a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Nordson Company 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.