On September 20, 2023, it was reported that Prelude Capital Management Llc had acquired a new position in shares of Nordson Co. According to their recent Form 13F filing with the Securities and Exchange Commission, Prelude Capital Management LLC purchased 1,060 shares of Nordson Co.’s stock during the first quarter. This purchase amounted to a value of approximately $236,000.

Nordson Co., an industrial products company listed on the NASDAQ under the symbol NDSN, has generated considerable attention in recent research reports. KeyCorp, for instance, lifted their target price on Nordson shares from $255.00 to $270.00 in a report released on June 22nd. Similarly, Wells Fargo & Company raised their target price to $290.00 and labeled the company as “overweight” in a report published on July 18th. StockNews.com also initiated coverage on Nordson with a “buy” rating in a report unveiled on August 17th. Finally, Robert W. Baird increased their price target from $251.00 to $253.00 and assigned an “outperform” rating to Nordson’s stock in a report released on August 23rd.

As of Wednesday’s opening price, Nordson’s shares were trading at $230.74 on NASDAQ. The company currently holds a market capitalization of approximately $13.15 billion with a PE ratio of 26.58 and a PEG ratio of 1.98. Notably, Nordson’s stock has exhibited a beta value of 0.94.

The firm’s fifty-day and two-hundred-day moving averages stand at $241.53 and $229.19 respectively. With regards to its financial ratios, Nordson boasts a debt-to-equity ratio of 0.29, indicating sound financial health in managing its debt obligations and equity levels.

Furthermore, Nordson demonstrates a quick ratio of 1.39, reflecting its ability to cover short-term obligations using its most liquid assets. The company also maintains a current ratio of 2.23, illustrating ample resources to address broader financial commitments.

Over the past year, Nordson’s stock has traded within a range of $202.57 to $253.40, capturing both lows and highs in its price movements.

Please note that this article is based on information as of September 20, 2023 and does not account for any subsequent developments or changes in pricing and ratings.

Nordson Draws Interest from Institutional Investors and Shows Promising Financial Performance

On September 20, 2023, Nordson (NASDAQ:NDSN) came under the spotlight as a number of institutional investors were seen making moves in the market. Wealth Alliance raised its position in Nordson by 3.2% during the fourth quarter, now owning 1,348 shares worth $321,000. DnB Asset Management AS also increased its holdings in Nordson by 0.4% during the first quarter, resulting in ownership of 12,315 shares valued at $2,737,000. Thrive Wealth Management LLC and Atria Investments Inc both saw a slight increase in their holdings during the first quarter by 4.4% and 0.6%, respectively. Studio Investment Management LLC also made moves during the fourth quarter with an increase of 3.8% in its holdings.

The high interest from institutional investors undoubtedly draws attention to the promising future prospects of Nordson. With approximately 70.88% of the stock being owned by hedge funds and other institutional investors, it is clear that these parties have faith in the industrial products company’s potential.

While institutional investors played a major role in shaping Nordson’s financial landscape, another event caught attention recently as well. Director Mary G. Puma sold 2,099 shares of Nordson stock on Friday, July 14th at an average price of $245.92 per share, resulting in a total transaction value of $516,186.08. Following this sale, Puma’s ownership stands at approximately 16,835 shares valued at around $4,140,063.

In terms of research reports released on Nordson lately: KeyCorp lifted their target price on shares from $255 to $270 on June 22nd; Wells Fargo & Company raised their target price from $270 to $290 and gave the company an “overweight” rating on July 18th; StockNews.com initiated coverage with a “buy” rating on August 17th; and Robert W. Baird increased their price target from $251 to $253 and gave the stock an “outperform” rating on August 23rd.

Nordson recently announced its quarterly earnings results for the quarter that ended on August 22nd. The company reported earnings per share (EPS) of $2.35, surpassing the consensus estimate of $2.32 EPS by $0.03. Nordson’s revenue for the quarter was $648.68 million, slightly lower than analysts’ estimates of $664.94 million. However, it should be noted that Nordson experienced a 2% decrease in revenue compared to the same quarter last year. The company’s net margin stood at 19.32%, while its return on equity reached 21.17%. Analysts predict that Nordson will post EPS of 8.97 for the current fiscal year.

Lastly, Nordson declared a quarterly dividend which was paid to shareholders on September 5th, as per records from Tuesday, August 22nd. Shareholders received a dividend of $0.68 per share, reflecting an increase from the previous dividend amount of $0.65 per share. This translates to an annualized dividend amounting to $2.72 per share and a yield of 1.18%. The ex-dividend date was set for Monday, August 21st.

With various institutional investors increasing their positions in Nordson coupled with positive research reports and solid financial performance in recent quarters, it is evident that there is significant interest in this industrial products company moving forward. Investors should continue monitoring Nordson closely as it navigates through what appears to be a promising future ahead.

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