Azzad Asset Management Inc. ADV Buys New Holdings in Nordson Co. (NASDAQ:NDSN)

Azzad Asset Management Inc. ADV purchased a new position in Nordson Co. (NASDAQ:NDSN) during the first quarter, HoldingsChannel reports. The fund purchased 10,900 shares of the industrial products company’s stock, valued at approximately $2,199,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its position in shares of Nordson by 25.6% during the fourth quarter. Stephens Inc. AR now owns 1,937 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 395 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Nordson by 8.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,193 shares of the industrial products company’s stock valued at $459,000 after acquiring an additional 167 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Nordson by 1.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 41,203 shares of the industrial products company’s stock worth $8,683,000 after acquiring an additional 597 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in Nordson by 10.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 926 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 87 shares during the last quarter. Finally, Allworth Financial LP raised its position in Nordson by 1.1% during the fourth quarter. Allworth Financial LP now owns 11,258 shares of the industrial products company’s stock valued at $2,470,000 after purchasing an additional 117 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Down 1.7%

NDSN stock opened at $214.36 on Friday. Nordson Co. has a 12 month low of $165.03 and a 12 month high of $266.86. The firm’s 50-day moving average is $196.43 and its 200 day moving average is $208.64. The company has a market capitalization of $12.11 billion, a PE ratio of 27.27, a P/E/G ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same period in the prior year, the firm earned $2.34 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.46%. Nordson’s payout ratio is currently 40.10%.

Analyst Ratings Changes

Several research firms have recently weighed in on NDSN. Wall Street Zen raised Nordson from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Oppenheimer upgraded shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. KeyCorp dropped their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company 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 price objective on the stock. in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.17.

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.