Proficio Capital Partners LLC Takes $3.68 Million Position in Nordson Co. (NASDAQ:NDSN)

Proficio Capital Partners LLC bought a new position in shares of Nordson Co. (NASDAQ:NDSN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 17,576 shares of the industrial products company’s stock, valued at approximately $3,678,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NDSN. State Street Corp increased its stake in Nordson by 7.2% during the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after buying an additional 177,282 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nordson by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock valued at $377,919,000 after acquiring an additional 14,780 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Nordson by 10.5% during the 3rd 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. Bank of New York Mellon Corp grew its holdings in shares of Nordson by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 510,239 shares of the industrial products company’s stock worth $106,762,000 after buying an additional 28,967 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Nordson by 23.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after buying an additional 61,430 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

Nordson stock opened at $206.55 on Wednesday. The company’s 50 day moving average is $213.27 and its two-hundred day moving average is $237.61. The firm has a market cap of $11.76 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95. 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 Co. has a 52-week low of $196.83 and a 52-week high of $279.38.

Nordson (NASDAQ:NDSN) last announced 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). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The company had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. On average, research analysts expect that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.78 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 annualized dividend and a dividend yield of 1.51%. Nordson’s dividend payout ratio (DPR) is currently 39.69%.

Insider Buying and Selling

In other news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares in the company, valued at approximately $1,519,286.13. This represents a 15.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

NDSN has been the subject of several research reports. KeyCorp raised shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a research note on Tuesday. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a research note on Monday, February 24th. DA Davidson reduced 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $237.00 target price (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, 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. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.20.

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.