Renaissance Technologies LLC Purchases Shares of 54,314 Nordson Co. (NASDAQ:NDSN)

Renaissance Technologies LLC acquired a new stake in shares of Nordson Co. (NASDAQ:NDSN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 54,314 shares of the industrial products company’s stock, valued at approximately $11,365,000. Renaissance Technologies LLC owned about 0.10% of Nordson as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NDSN. Vanguard Group Inc. boosted its stake in Nordson by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company’s stock valued at $1,302,887,000 after buying an additional 93,146 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nordson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,455,956 shares of the industrial products company’s stock worth $303,918,000 after acquiring an additional 12,590 shares in the last quarter. FMR LLC boosted its position in shares of Nordson by 19.2% during the 4th quarter. FMR LLC now owns 693,627 shares of the industrial products company’s stock valued at $145,135,000 after acquiring an additional 111,538 shares during the last quarter. Norges Bank purchased a new position in shares of Nordson in the fourth quarter valued at $142,670,000. Finally, JPMorgan Chase & Co. increased its position in Nordson by 10.5% in the third 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

NDSN has been the subject of a number of analyst reports. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a report on Monday, February 24th. KeyCorp dropped their target price on Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and raised their price target for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.20.

Nordson Stock Performance

NDSN stock opened at $183.09 on Wednesday. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.65 and a beta of 0.96. Nordson Co. has a twelve month low of $165.03 and a twelve month high of $279.38. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $203.47 and its two-hundred day simple moving average is $225.51.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). The company 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%. Analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s dividend payout ratio is 39.69%.

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.