Sterling Capital Management LLC Raises Position in Nordson Co. (NASDAQ:NDSN)

Sterling Capital Management LLC grew its stake in Nordson Co. (NASDAQ:NDSN) by 55.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,363 shares of the industrial products company’s stock after purchasing an additional 1,199 shares during the period. Sterling Capital Management LLC’s holdings in Nordson were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. boosted its stake in Nordson by 26.1% during 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. Tortoise Investment Management LLC boosted its stake 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 worth $57,000 after purchasing an additional 115 shares during the period. Brooklyn Investment Group grew its holdings in Nordson by 695.0% during the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 278 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Nordson in the 4th quarter worth about $98,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Nordson by 166.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 480 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Trading Down 1.3 %

NDSN opened at $180.69 on Thursday. Nordson Co. has a 52 week low of $165.03 and a 52 week high of $279.38. The company has a market capitalization of $10.28 billion, a P/E ratio of 22.99, a PEG ratio of 1.65 and a beta of 0.96. The stock’s fifty day moving average is $202.80 and its two-hundred day moving average is $225.20. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Analysts forecast that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.73%. Nordson’s dividend payout ratio is presently 39.69%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Loop Capital raised 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. KeyCorp reduced their target price on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.20.

Nordson 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.