Principal Financial Group Inc. Purchases 13,184 Shares of Nordson Co. (NASDAQ:NDSN)

Principal Financial Group Inc. grew its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 4.7% in the third quarter, HoldingsChannel.com reports. The fund owned 295,962 shares of the industrial products company’s stock after acquiring an additional 13,184 shares during the quarter. Principal Financial Group Inc.’s holdings in Nordson were worth $77,723,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Nordson during the second quarter worth approximately $27,000. Tortoise Investment Management LLC boosted its holdings in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after buying an additional 58 shares in the last quarter. Blue Trust Inc. grew its position in shares of 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 buying an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Nordson in the 2nd quarter valued at $46,000. Finally, UMB Bank n.a. lifted its position in shares of Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 191 shares during the period. 72.11% of the stock is owned by institutional investors.

Nordson Price Performance

NDSN stock opened at $209.73 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.52 and a current ratio of 2.41. The business has a 50-day simple moving average of $250.25 and a two-hundred day simple moving average of $245.18. The company has a market capitalization of $11.96 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Nordson Co. has a 52-week low of $207.15 and a 52-week high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The business had revenue of $744.00 million during the quarter, compared to the consensus estimate of $736.83 million. During the same quarter in the prior year, the company posted $2.46 earnings per share. Nordson’s revenue was up 3.5% compared to the same quarter last year. Research analysts expect that Nordson Co. will post 10.34 EPS for the current fiscal year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.49%. Nordson’s dividend payout ratio (DPR) is presently 38.47%.

Insiders Place Their Bets

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the transaction, the executive vice president now owns 3,287 shares in the company, valued at $862,081.49. This represents a 6.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Lovass sold 317 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the sale, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at approximately $1,738,159.50. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,629 shares of company stock valued at $914,400. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NDSN shares. DA Davidson reduced their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, December 13th. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Baird R W lowered Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Robert W. Baird restated a “neutral” rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $279.00.

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.