State of Alaska Department of Revenue Buys 3,185 Shares of Nordson Co. (NASDAQ:NDSN)

State of Alaska Department of Revenue increased its stake in shares of Nordson Co. (NASDAQ:NDSN) by 26.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,444 shares of the industrial products company’s stock after purchasing an additional 3,185 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nordson were worth $3,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 91 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Nordson during the third quarter valued at about $53,000. UMB Bank n.a. grew its holdings 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 last quarter. Brooklyn Investment Group increased its stake in shares of Nordson by 695.0% in the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after buying an additional 278 shares during the period. Finally, Covestor Ltd raised its holdings in Nordson by 18.8% in the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after buying an additional 43 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 0.4 %

Shares of Nordson stock opened at $214.39 on Monday. The stock’s 50-day moving average is $220.40 and its 200 day moving average is $240.67. Nordson Co. has a one year low of $196.83 and a one year high of $279.38. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.41 and a quick ratio of 1.51.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. The firm had revenue of $744.00 million for the quarter, compared to analysts’ expectations of $736.83 million. Nordson had a return on equity of 19.87% and a net margin of 17.37%. During the same period in the prior year, the business earned $2.46 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.12 annualized dividend and a dividend yield of 1.46%. Nordson’s dividend payout ratio is currently 38.47%.

Insider Transactions at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares in the company, valued at approximately $1,519,286.13. This represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,703 shares of company stock valued at $374,069 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NDSN has been the subject of several recent research reports. DA Davidson decreased their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and increased their price objective for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Robert W. Baird reissued a “neutral” rating and issued a $237.00 price target (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Finally, Baird R W lowered Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $279.25.

About Nordson

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.