Mcdaniel Terry & Co. Grows Stake in Nordson Co. (NASDAQ:NDSN)

Mcdaniel Terry & Co. increased its holdings in Nordson Co. (NASDAQ:NDSN) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,239 shares of the industrial products company’s stock after acquiring an additional 1,530 shares during the period. Nordson comprises 4.8% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 3rd biggest holding. Mcdaniel Terry & Co. owned 0.38% of Nordson worth $57,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Nordson by 289.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after buying an additional 193,421 shares in the last quarter. Swedbank AB bought a new stake in Nordson in the first quarter worth $48,044,000. Price T Rowe Associates Inc. MD lifted its stake in Nordson by 237.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock worth $68,049,000 after purchasing an additional 174,330 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Nordson by 26,109.1% during the third quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock valued at $27,327,000 after acquiring an additional 103,653 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Nordson by 10.4% during the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after acquiring an additional 88,966 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.00.

Nordson Trading Down 0.4 %

NASDAQ:NDSN opened at $248.89 on Friday. The company’s 50 day moving average price is $253.41 and its 200-day moving average price is $247.99. Nordson Co. has a 52 week low of $208.91 and a 52 week high of $279.38. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.02 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.08. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. On average, equities research analysts forecast that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.25%. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is presently 38.00%.

Insider Activity at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.

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.