Mountain Pacific Investment Advisers Inc. ID bought a new position in shares of Nordson Co. (NASDAQ:NDSN) during the first quarter, HoldingsChannel.com reports. The firm bought 56,095 shares of the industrial products company’s stock, valued at approximately $7,434,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Doyle Wealth Management bought a new stake in Nordson during the 4th quarter worth approximately $30,000. CX Institutional bought a new stake in Nordson during the 1st quarter worth approximately $30,000. Cordasco Financial Network bought a new stake in shares of Nordson during the first quarter valued at approximately $30,000. Penserra Capital Management LLC bought a new stake in shares of Nordson during the fourth quarter valued at approximately $36,000. Finally, Bessemer Group Inc. bought a new stake in shares of Nordson during the fourth quarter valued at approximately $66,000. Institutional investors own 70.50% of the company’s stock.
In related news, insider John J. Keane sold 43,900 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $132.69, for a total value of $5,825,091.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Hilton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $137.98, for a total transaction of $551,920.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,560 shares of company stock valued at $9,831,639. 1.97% of the stock is currently owned by insiders.
Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.21). The company had revenue of $497.91 million for the quarter, compared to the consensus estimate of $497.99 million. Nordson had a net margin of 14.59% and a return on equity of 23.01%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. As a group, analysts anticipate that Nordson Co. will post 6.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 24th. Nordson’s payout ratio is currently 23.57%.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Oppenheimer lifted their price objective on shares of Nordson from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, April 23rd. Finally, ValuEngine upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $143.00.
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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