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

CIBC Asset Management Inc increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,477 shares of the industrial products company’s stock after purchasing 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 quarter.

A number of other large investors have also recently added to or reduced their stakes in NDSN. Blue Trust Inc. increased its stake in Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 91 shares during the last quarter. UMB Bank n.a. increased its position 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 purchasing an additional 52 shares during the last quarter. Brooklyn Investment Group raised its holdings in Nordson by 695.0% in the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after buying an additional 278 shares during the period. Covestor Ltd lifted its position 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 during the last quarter. Finally, Quarry LP purchased a new position in Nordson during the third quarter worth about $109,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Nordson Stock Down 1.4 %

Shares of NASDAQ NDSN opened at $215.44 on Friday. The stock has a market cap of $12.30 billion, a P/E ratio of 27.41, a PEG ratio of 1.64 and a beta of 0.95. The business’s fifty day simple moving average is $213.85 and its 200-day simple moving average is $238.84. Nordson Co. has a 12-month low of $196.83 and a 12-month high of $279.38. The company has a current ratio of 2.41, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last issued 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 company had revenue of $615.42 million for 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%. As a group, equities analysts predict that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.78 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a yield of 1.45%. Nordson’s dividend payout ratio is currently 39.69%.

Insiders Place Their Bets

In other news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now directly owns 7,347 shares in the company, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,703 shares of company stock worth $374,069 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

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.