Mirae Asset Global Investments Co. Ltd. Boosts Stake in Nordson Corporation (NASDAQ:NDSN)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Nordson Corporation (NASDAQ:NDSN) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,074 shares of the industrial products company’s stock after buying an additional 1,136 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nordson were worth $2,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NDSN. Metis Global Partners LLC lifted its stake in Nordson by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company’s stock valued at $379,000 after buying an additional 69 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Nordson by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,710 shares of the industrial products company’s stock valued at $96,190,000 after buying an additional 7,355 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Nordson in the 4th quarter valued at about $3,678,000. Arizona State Retirement System raised its holdings in Nordson by 1.1% in the 4th quarter. Arizona State Retirement System now owns 15,759 shares of the industrial products company’s stock valued at $3,297,000 after acquiring an additional 172 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Nordson in the 4th quarter valued at about $74,005,000. 72.11% of the stock is owned by hedge funds and other institutional investors.

Nordson Price Performance

Nordson stock opened at $222.83 on Friday. The stock has a market cap of $12.59 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89. The company has a fifty day simple moving average of $205.75 and a 200-day simple moving average of $205.67. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

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

Nordson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Wall Street Zen cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They issued a “hold” rating and a $245.00 price target for the company. Wolfe Research initiated coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a “peer perform” rating for the company. Finally, KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and an average target price of $252.00.

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.