Sound Income Strategies LLC Boosts Position in Nordson Co. (NASDAQ:NDSN)

Sound Income Strategies LLC lifted its position in Nordson Co. (NASDAQ:NDSN) by 36.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754 shares of the industrial products company’s stock after purchasing an additional 202 shares during the quarter. Sound Income Strategies LLC’s holdings in Nordson were worth $198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Nordson by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock valued at $1,680,769,000 after purchasing an additional 52,443 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Nordson by 2.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after acquiring an additional 68,810 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Nordson by 10.4% during the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock worth $258,764,000 after acquiring an additional 88,966 shares during the period. American Century Companies Inc. raised its stake in shares of Nordson by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after buying an additional 15,947 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Nordson by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock worth $113,689,000 after purchasing an additional 11,809 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 1.2 %

Shares of NASDAQ NDSN opened at $256.62 on Monday. The firm’s 50 day moving average price is $250.05 and its 200 day moving average price is $248.79. Nordson Co. has a 1 year low of $208.91 and a 1 year high of $279.38. The firm has a market cap of $14.70 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same quarter in the previous year, the business earned $2.35 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, August 27th. This is a boost from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is currently 37.19%.

Insider Transactions at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price objective on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

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.