Daiwa Securities Group Inc. Increases Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Daiwa Securities Group Inc. raised its stake in Nordson Co. (NASDAQ:NDSN) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,833 shares of the industrial products company’s stock after purchasing an additional 334 shares during the period. Daiwa Securities Group Inc.’s holdings in Nordson were worth $1,805,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in Nordson by 208.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Tobam grew its position in shares of Nordson by 2,275.0% during the fourth quarter. Tobam now owns 95 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 91 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Nordson during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new position in shares of Nordson during the fourth quarter worth approximately $27,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Nordson during the fourth quarter worth approximately $28,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Price Performance

Nordson stock opened at $260.52 on Tuesday. Nordson Co. has a one year low of $208.90 and a one year high of $278.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 2.19. The business has a fifty day moving average of $266.67 and a two-hundred day moving average of $249.53. The company has a market cap of $14.90 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

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

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio (DPR) is currently 31.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NDSN. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. KeyCorp restated a “sector weight” rating on shares of Nordson in a research report on Monday, February 26th. Wells Fargo & Company lifted their price objective on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, DA Davidson lifted their price objective on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Nordson has a consensus rating of “Moderate Buy” and a consensus 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.