Proficio Capital Partners LLC Makes New Investment in Nordson Co. (NASDAQ:NDSN)

Proficio Capital Partners LLC bought a new stake in shares of Nordson Co. (NASDAQ:NDSN) during the 4th quarter, Holdings Channel reports. The fund bought 17,576 shares of the industrial products company’s stock, valued at approximately $3,678,000.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Nordson by 6.0% during the third quarter. Victory Capital Management Inc. now owns 36,874 shares of the industrial products company’s stock valued at $9,684,000 after acquiring an additional 2,090 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Nordson in the 3rd quarter valued at approximately $203,000. CIBC Asset Management Inc increased its holdings in Nordson by 17.5% in the 3rd quarter. CIBC Asset Management Inc now owns 11,209 shares of the industrial products company’s stock worth $2,944,000 after buying an additional 1,671 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Nordson by 6.1% during the third quarter. Empirical Finance LLC now owns 1,199 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 69 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Nordson by 71.0% during the third quarter. Natixis Advisors LLC now owns 157,582 shares of the industrial products company’s stock valued at $41,386,000 after purchasing an additional 65,436 shares during the period. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Trading Up 1.6 %

Nordson stock opened at $210.68 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. Nordson Co. has a 12-month low of $196.83 and a 12-month high of $279.38. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 1.65 and a beta of 0.92. The firm has a 50 day moving average of $213.21 and a 200 day moving average of $234.90.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. As a group, research analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 20th. Nordson’s payout ratio is currently 39.69%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NDSN. Robert W. Baird reissued a “neutral” rating and issued a $237.00 target price (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. DA Davidson lowered their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research report on Monday, February 24th. KeyCorp upgraded shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research report on Tuesday, March 4th. Finally, Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.20.

Insider Transactions at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the transaction, the executive vice president now owns 7,347 shares in the company, valued at $1,519,286.13. This trade represents a 15.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

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.