State of Alaska Department of Revenue Acquires 3,185 Shares of Nordson Co. (NASDAQ:NDSN)

State of Alaska Department of Revenue boosted its holdings in Nordson Co. (NASDAQ:NDSN) by 26.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,444 shares of the industrial products company’s stock after acquiring an additional 3,185 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nordson were worth $3,231,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Nordson by 1.0% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company’s stock valued at $1,052,000 after purchasing an additional 39 shares in the last quarter. Procyon Advisors LLC raised its position in Nordson by 2.9% in the 3rd quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company’s stock valued at $367,000 after buying an additional 39 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Nordson by 1.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 42 shares in the last quarter. Covestor Ltd boosted its holdings in Nordson by 18.8% during the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 43 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Nordson by 3.5% in the 3rd quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Price Performance

Nordson stock opened at $214.39 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $220.40 and its 200 day simple moving average is $240.67. Nordson Co. has a 12 month low of $196.83 and a 12 month high of $279.38. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.62 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The firm had revenue of $744.00 million for the quarter, compared to analysts’ expectations of $736.83 million. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, January 2nd. Nordson’s dividend payout ratio (DPR) is currently 38.47%.

Insider Activity at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total transaction of $268,620.21. Following the sale, the executive vice president now owns 7,347 shares of the company’s stock, valued at $1,519,286.13. The trade was a 15.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 1,703 shares of company stock worth $374,069. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. DA Davidson dropped their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $237.00 target price (down from $294.00) on shares of Nordson in a report on Friday, December 13th. Loop Capital upgraded 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 report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $279.25.

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.