CIBC Private Wealth Group LLC Boosts Stake in Nordson Co. (NASDAQ:NDSN)

CIBC Private Wealth Group LLC boosted its stake in shares of Nordson Co. (NASDAQ:NDSN) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,829 shares of the industrial products company’s stock after purchasing an additional 87 shares during the period. CIBC Private Wealth Group LLC’s holdings in Nordson were worth $370,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Nordson during the 4th quarter valued at about $142,670,000. Raymond James Financial Inc. purchased a new position in Nordson during the fourth quarter valued at approximately $74,005,000. State Street Corp boosted its position in shares of Nordson by 7.2% in the third quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after purchasing an additional 177,282 shares during the period. Vanguard Group Inc. increased its stake in shares of Nordson by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company’s stock worth $1,302,887,000 after purchasing an additional 93,146 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Nordson by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock valued at $135,138,000 after purchasing an additional 48,720 shares during the period. Institutional investors own 72.11% of the company’s stock.

Insider Buying and Selling at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the sale, the executive vice president now directly owns 7,347 shares in the company, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NDSN. 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. Baird R W cut Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. KeyCorp raised Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a report on Tuesday, March 4th. DA Davidson cut their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Seaport Res Ptn raised shares of Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.20.

Nordson Trading Down 5.2 %

NDSN stock opened at $176.73 on Friday. The firm has a fifty day moving average price of $210.54 and a 200 day moving average price of $230.22. Nordson Co. has a fifty-two week low of $173.36 and a fifty-two week high of $279.38. The firm has a market cap of $10.06 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. 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 (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 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 business had revenue of $615.42 million during the quarter, compared to analysts’ expectations of $639.40 million. Sell-side analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current fiscal 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 given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, March 20th. Nordson’s dividend payout ratio (DPR) is currently 39.69%.

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.