Nordson Co. (NASDAQ:NDSN) Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Nordson Co. (NASDAQ:NDSN) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,145 shares of the industrial products company’s stock after selling 6,211 shares during the quarter. Royal Bank of Canada owned about 0.26% of Nordson worth $30,789,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. boosted its position in Nordson by 26.1% in the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after buying an additional 52 shares during the last quarter. Inspire Investing LLC boosted its position in Nordson by 1.8% in the fourth quarter. Inspire Investing LLC now owns 6,276 shares of the industrial products company’s stock valued at $1,313,000 after buying an additional 110 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in Nordson by 2.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 16,187 shares of the industrial products company’s stock valued at $3,387,000 after buying an additional 367 shares during the last quarter. Crown Oak Advisors LLC boosted its position in Nordson by 10.2% in the fourth quarter. Crown Oak Advisors LLC now owns 37,761 shares of the industrial products company’s stock valued at $7,901,000 after buying an additional 3,510 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Nordson by 15.5% in the fourth quarter. Sound Income Strategies LLC now owns 871 shares of the industrial products company’s stock valued at $182,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Performance

Shares of Nordson stock opened at $193.38 on Friday. The business has a 50-day moving average of $192.10 and a 200 day moving average of $213.84. Nordson Co. has a 12 month low of $165.03 and a 12 month high of $266.86. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. 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 announced its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The firm had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. As a group, sell-side analysts forecast that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s payout ratio is presently 39.69%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. KeyCorp dropped their target price on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. 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 report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.20.

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.