Nordson Co. (NASDAQ:NDSN) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Nordson Co. (NASDAQ:NDSN) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,477 shares of the industrial products company’s stock after acquiring an additional 268 shares during the quarter. CIBC Asset Management Inc’s holdings in Nordson were worth $2,401,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NDSN. Creative Financial Designs Inc. ADV increased its holdings in shares of Nordson by 1.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock valued at $752,000 after purchasing an additional 42 shares in the last quarter. Covestor Ltd increased its holdings in Nordson by 18.8% in the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after buying an additional 43 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Nordson by 3.5% in the third quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 49 shares during the period. UMB Bank n.a. boosted its stake in shares of Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 52 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its position in shares of Nordson by 1.7% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 1.4 %

NASDAQ NDSN opened at $215.44 on Friday. Nordson Co. has a one year low of $196.83 and a one year high of $279.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.41. The business has a fifty day moving average price of $213.85 and a 200 day moving average price of $238.84. The company has a market cap of $12.30 billion, a P/E ratio of 27.41, a P/E/G ratio of 1.64 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). The business had revenue of $615.42 million during the quarter, compared to analysts’ expectations of $639.40 million. Nordson had a return on equity of 19.31% and a net margin of 16.93%. Research analysts anticipate that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, January 2nd. Nordson’s dividend payout ratio is currently 39.69%.

Analysts Set New Price Targets

NDSN has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $237.00 price target (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and increased their target price for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. DA Davidson cut their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, December 13th. Baird R W downgraded shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Seaport Res Ptn raised shares of Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $279.25.

Insider Activity at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the completion of the sale, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. This represents a 15.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 1,703 shares of company stock valued at $374,069. 0.80% of the stock is currently owned by insiders.

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.