Axxcess Wealth Management LLC Sells 269 Shares of Nordson Co. (NASDAQ:NDSN)

Axxcess Wealth Management LLC reduced its position in Nordson Co. (NASDAQ:NDSN) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,638 shares of the industrial products company’s stock after selling 269 shares during the period. Axxcess Wealth Management LLC’s holdings in Nordson were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Nordson by 4.1% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,235,928 shares of the industrial products company’s stock worth $498,992,000 after acquiring an additional 88,095 shares in the last quarter. Morgan Stanley lifted its position in Nordson by 9.2% during the third quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company’s stock valued at $310,534,000 after purchasing an additional 117,337 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Nordson by 53.4% in the 3rd quarter. Lazard Asset Management LLC now owns 791,037 shares of the industrial products company’s stock worth $176,534,000 after buying an additional 275,240 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Nordson by 9.0% in the 3rd quarter. Invesco Ltd. now owns 781,549 shares of the industrial products company’s stock worth $174,418,000 after buying an additional 64,707 shares during the last quarter. Finally, FMR LLC raised its position in shares of Nordson by 4.3% during the 3rd quarter. FMR LLC now owns 546,738 shares of the industrial products company’s stock valued at $122,015,000 after buying an additional 22,685 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Nordson Stock Performance

Shares of Nordson stock opened at $270.65 on Tuesday. Nordson Co. has a 52 week low of $208.90 and a 52 week high of $278.00. The company has a market capitalization of $15.48 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. The stock’s fifty day moving average is $265.89 and its two-hundred day moving average is $252.26. The company has a quick ratio of 1.37, a current ratio of 2.19 and a debt-to-equity ratio of 0.56.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. The company had revenue of $633.20 million during the quarter, compared to analyst estimates of $630.77 million. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. As a group, analysts expect that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 16th. This represents a $2.72 annualized dividend and a yield of 1.00%. Nordson’s payout ratio is currently 31.81%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NDSN. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. DA Davidson increased their price target on Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Wells Fargo & Company lifted their price objective on shares of Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, KeyCorp restated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.00.

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.