Neuberger Berman Group LLC Sells 196,269 Shares of Nordson Co. (NASDAQ:NDSN)

Neuberger Berman Group LLC lowered its position in Nordson Co. (NASDAQ:NDSN) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 473,164 shares of the industrial products company’s stock after selling 196,269 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.83% of Nordson worth $99,005,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NDSN. New York Life Investment Management LLC raised its stake in shares of Nordson by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 49 shares during the period. UMB Bank n.a. lifted its holdings in Nordson by 26.1% in the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after buying an additional 52 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Nordson by 1.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 56 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Nordson by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 58 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Nordson by 4.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a report on Monday, February 24th. Baird R W downgraded shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, KeyCorp cut their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday. Four investment 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.20.

Nordson Stock Performance

NASDAQ:NDSN opened at $187.29 on Thursday. Nordson Co. has a twelve month low of $165.03 and a twelve month high of $279.38. The company has a market cap of $10.66 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.65 and a beta of 0.96. The company’s 50-day moving average price is $206.08 and its 200-day moving average price is $227.61. 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 announced 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 company had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. On average, sell-side analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.67%. Nordson’s payout ratio 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.