Bank of America Corp DE Has $29.26 Million Position in Nordson Co. (NASDAQ:NDSN)

Bank of America Corp DE lowered its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,840 shares of the industrial products company’s stock after selling 99,747 shares during the quarter. Bank of America Corp DE’s holdings in Nordson were worth $29,260,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. raised its position in shares of Nordson by 26.1% during the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 52 shares during the period. Tortoise Investment Management LLC grew its holdings in shares of Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after buying an additional 115 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Nordson during the fourth quarter worth about $62,000. Brooklyn Investment Group grew its holdings in shares of Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock worth $67,000 after buying an additional 278 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Nordson during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NDSN shares. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective for the company. in a report on Monday, February 24th. Finally, KeyCorp decreased their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.20.

Nordson Stock Up 2.1%

NDSN stock opened at $205.35 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $192.92 and a two-hundred day moving average price of $215.36. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.65 and a beta of 0.90. Nordson Co. has a twelve month low of $165.03 and a twelve month high of $272.27.

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

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.52%. Nordson’s payout ratio is 39.69%.

Nordson Company 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.