Twinbeech Capital LP Takes $612,000 Position in Nordson Co. (NASDAQ:NDSN)

Twinbeech Capital LP bought a new stake in Nordson Co. (NASDAQ:NDSN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,082 shares of the industrial products company’s stock, valued at approximately $612,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NDSN. FMR LLC lifted its holdings in shares of Nordson by 7,456.8% in the first quarter. FMR LLC now owns 48,061 shares of the industrial products company’s stock valued at $6,369,000 after purchasing an additional 47,425 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nordson during the fourth quarter worth $121,000. LPL Financial LLC raised its holdings in shares of Nordson by 68.3% during the fourth quarter. LPL Financial LLC now owns 9,866 shares of the industrial products company’s stock worth $1,983,000 after acquiring an additional 4,005 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Nordson by 108.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,999 shares of the industrial products company’s stock worth $2,411,000 after buying an additional 6,252 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Nordson by 58.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,383 shares of the industrial products company’s stock worth $479,000 after buying an additional 883 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.

In other news, VP Gina A. Beredo sold 9,293 shares of Nordson stock in a transaction that occurred on Wednesday, May 26th. The shares were sold at an average price of $214.18, for a total value of $1,990,374.74. Following the completion of the transaction, the vice president now owns 8,915 shares in the company, valued at $1,909,414.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Nordson from a “hold” rating to a “buy” rating and set a $235.00 target price on the stock in a research report on Friday, May 28th. Morgan Stanley raised their price target on Nordson from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 26th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Nordson in a research report on Tuesday, May 25th. Wells Fargo & Company raised their price target on Nordson from $230.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, May 26th. Finally, DA Davidson raised their price target on Nordson from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, July 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $241.25.

NASDAQ:NDSN opened at $224.52 on Thursday. Nordson Co. has a 1 year low of $178.60 and a 1 year high of $226.76. The firm has a 50 day moving average price of $217.55. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $13.04 billion, a PE ratio of 42.85, a P/E/G ratio of 2.28 and a beta of 0.97.

Nordson (NASDAQ:NDSN) last posted its earnings results on Sunday, May 23rd. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.48. Nordson had a net margin of 13.88% and a return on equity of 20.60%. The company had revenue of $590.00 million during the quarter, compared to analysts’ expectations of $546.77 million. During the same quarter in the previous year, the company posted $1.58 earnings per share. Nordson’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Nordson Co. will post 7.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 8th. Stockholders of record on Tuesday, May 25th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Monday, May 24th. Nordson’s dividend payout ratio (DPR) is currently 28.47%.

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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).

Further Reading: How is diluted EPS different from basic EPS?

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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