RMB Capital Management LLC Decreases Stock Holdings in Nordson Co. (NASDAQ:NDSN)

RMB Capital Management LLC trimmed its holdings in shares of Nordson Co. (NASDAQ:NDSNFree Report) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 152,102 shares of the industrial products company’s stock after selling 1,558 shares during the quarter. Nordson accounts for approximately 1.2% of RMB Capital Management LLC’s portfolio, making the stock its 16th biggest holding. RMB Capital Management LLC’s holdings in Nordson were worth $40,179,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its position in shares of Nordson by 48.4% during the third quarter. Envestnet Asset Management Inc. now owns 231,363 shares of the industrial products company’s stock worth $51,633,000 after acquiring an additional 75,466 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Nordson by 4.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock valued at $782,000 after acquiring an additional 133 shares during the period. UBS Group AG raised its stake in shares of Nordson by 14.8% in the fourth quarter. UBS Group AG now owns 162,870 shares of the industrial products company’s stock valued at $43,024,000 after acquiring an additional 21,016 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Nordson by 918.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 12,063 shares of the industrial products company’s stock valued at $3,187,000 after acquiring an additional 10,878 shares during the period. Finally, Pallas Capital Advisors LLC bought a new position in shares of Nordson in the fourth quarter worth about $1,192,000. 72.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Robert W. Baird cut their price target on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. KeyCorp restated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Finally, DA Davidson dropped their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.83.

Check Out Our Latest Research Report on NDSN

Nordson Stock Performance

Shares of Nordson stock traded down $0.09 during midday trading on Tuesday, hitting $225.19. The company had a trading volume of 124,938 shares, compared to its average volume of 229,906. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.83 and a beta of 0.94. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $257.90 and a 200 day simple moving average of $257.06. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38.

Nordson (NASDAQ:NDSNGet Free Report) last posted its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The company had revenue of $650.64 million during the quarter, compared to analyst estimates of $661.06 million. During the same period last year, the firm posted $2.26 EPS. Nordson’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that Nordson Co. will post 9.52 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, May 20th. Nordson’s dividend payout ratio (DPR) is 32.42%.

Nordson Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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