TIAA Trust National Association Invests $296,000 in Nordson Co. (NASDAQ:NDSN)

TIAA Trust National Association acquired a new position in Nordson Co. (NASDAQ:NDSN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,077 shares of the industrial products company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in Nordson during the 4th quarter valued at approximately $28,000. SG Americas Securities LLC grew its holdings in shares of Nordson by 26.3% in the fourth quarter. SG Americas Securities LLC now owns 3,141 shares of the industrial products company’s stock worth $830,000 after acquiring an additional 655 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Nordson in the fourth quarter worth $26,000. Raymond James & Associates lifted its position in Nordson by 0.5% during the fourth quarter. Raymond James & Associates now owns 271,438 shares of the industrial products company’s stock valued at $71,703,000 after purchasing an additional 1,318 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Nordson by 7.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,055 shares of the industrial products company’s stock worth $2,656,000 after buying an additional 718 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NDSN has been the topic of a number of analyst reports. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. DA Davidson lowered their price target on Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Robert W. Baird reduced their price objective on Nordson from $303.00 to $272.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $279.40.

Nordson Trading Up 0.8 %

NASDAQ NDSN traded up $1.99 on Monday, reaching $238.60. The stock had a trading volume of 49,568 shares, compared to its average volume of 231,457. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 1.91 and a beta of 0.91. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.51. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38. The stock has a fifty day moving average price of $236.98 and a two-hundred day moving average price of $253.62.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The business had revenue of $650.64 million for the quarter, compared to analyst estimates of $661.06 million. During the same quarter in the prior year, the company earned $2.26 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that Nordson Co. will post 9.52 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, May 20th. Nordson’s dividend payout ratio (DPR) is presently 32.42%.

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.