KBC Group NV Sells 10,553 Shares of Nordson Corporation (NASDAQ:NDSN)

KBC Group NV reduced its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,458 shares of the industrial products company’s stock after selling 10,553 shares during the quarter. KBC Group NV’s holdings in Nordson were worth $2,714,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 89 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Nordson by 73.7% during the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nordson during the 4th quarter worth $62,000. CX Institutional acquired a new position in Nordson during the 1st quarter valued at about $67,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Nordson during the 4th quarter valued at about $92,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NDSN shares. Wall Street Zen lowered Nordson from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. KeyCorp reduced their target price on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wolfe Research began coverage on Nordson in a research report on Wednesday, June 18th. They set a “peer perform” rating on the stock. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a report on Friday, May 30th. Finally, Vertical Research began coverage on shares of Nordson in a report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price objective on the stock. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nordson has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

Nordson Trading Up 0.0%

Shares of NASDAQ:NDSN opened at $222.83 on Friday. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.71 and a beta of 0.89. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $205.75 and a 200-day moving average price of $205.67.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm had revenue of $682.94 million during the quarter, compared to analysts’ expectations of $671.36 million. During the same period last year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson’s dividend payout ratio (DPR) is 40.10%.

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.