Fulton Bank N.A. Lowers Stake in Nordson Co. (NASDAQ:NDSN)

Fulton Bank N.A. lessened its stake in shares of Nordson Co. (NASDAQ:NDSN) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,039 shares of the industrial products company’s stock after selling 168 shares during the quarter. Fulton Bank N.A.’s holdings in Nordson were worth $937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Tobam grew its stake in Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Nordson in the 1st quarter worth approximately $55,000. Christopher J. Hasenberg Inc acquired a new position in Nordson in the first quarter valued at $58,000. Crewe Advisors LLC acquired a new position in Nordson during the first quarter worth approximately $67,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of Nordson in the 4th quarter worth about $88,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Up 0.4 %

Shares of NDSN stock traded up $1.00 during trading on Tuesday, hitting $235.80. 286,852 shares of the company were exchanged, compared to its average volume of 238,141. The business’s 50-day simple moving average is $233.74 and its 200 day simple moving average is $252.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 2.21. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.97 and a beta of 0.91.

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

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 20th. Nordson’s payout ratio is presently 32.42%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. StockNews.com downgraded Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson dropped their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $279.40.

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.