Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Nordson Corporation $NDSN

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Nordson Corporation (NASDAQ:NDSN) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,509 shares of the industrial products company’s stock after acquiring an additional 7,615 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Nordson worth $27,977,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Nordson by 3.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock worth $540,867,000 after purchasing an additional 90,704 shares during the period. Invesco Ltd. lifted its position in Nordson by 15.9% during the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after buying an additional 142,991 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Nordson by 156.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company’s stock worth $205,685,000 after buying an additional 621,734 shares during the period. Bank of New York Mellon Corp increased its position in shares of Nordson by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 542,208 shares of the industrial products company’s stock worth $116,233,000 after acquiring an additional 41,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Nordson by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 470,997 shares of the industrial products company’s stock valued at $95,010,000 after acquiring an additional 11,287 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp upped their price target on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Oppenheimer increased their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, August 25th. Jefferies Financial Group reissued a “hold” rating and set a $240.00 price target on shares of Nordson in a research report on Thursday, August 21st. DA Davidson set a $285.00 price objective on shares of Nordson in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.75.

Insider Buying and Selling at Nordson

In other news, EVP Joseph P. Kelley sold 2,200 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $240.00, for a total value of $528,000.00. Following the completion of the sale, the executive vice president owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. The trade was a 25.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Nordson Trading Up 0.7%

Shares of NDSN opened at $236.41 on Wednesday. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock has a 50-day moving average price of $229.90 and a 200 day moving average price of $218.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The company has a market capitalization of $13.28 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.77 and a beta of 0.98.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The company had revenue of $646.86 million for the quarter. Sell-side analysts forecast that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.82 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson’s payout ratio is currently 41.21%.

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.