South Dakota Investment Council Purchases Shares of 925 Nordson Corporation $NDSN

South Dakota Investment Council acquired a new stake in shares of Nordson Corporation (NASDAQ:NDSN) in the second quarter, Holdings Channel reports. The fund acquired 925 shares of the industrial products company’s stock, valued at approximately $198,000.

A number of other hedge funds also recently bought and sold shares of NDSN. Massachusetts Financial Services Co. MA lifted 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 valued at $205,685,000 after buying an additional 621,734 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Nordson by 118.5% in the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company’s stock valued at $72,048,000 after purchasing an additional 182,305 shares during the period. Nuveen LLC acquired a new position in shares of Nordson in the 1st quarter valued at about $29,125,000. Invesco Ltd. increased its holdings in shares of Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after purchasing an additional 142,991 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Nordson in the 1st quarter valued at about $25,827,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nordson

In other news, EVP Joseph P. Kelley sold 2,200 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was 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 directly owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. This represents a 25.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Nordson Trading Up 0.3%

Shares of NDSN stock opened at $230.32 on Wednesday. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $229.01 and its two-hundred day moving average is $216.46. The company has a market cap of $12.94 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 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. Equities analysts predict that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. DA Davidson set a $285.00 price objective on Nordson in a report on Tuesday, October 21st. KeyCorp increased their price objective on Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Oppenheimer increased their price objective on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. Jefferies Financial Group restated a “hold” rating and issued a $240.00 price objective on shares of Nordson in a report on Thursday, August 21st. Finally, Robert W. Baird increased their price objective on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and an average target price of $255.75.

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.