Carnegie Investment Counsel Has $641,000 Stake in Nordson Co. (NASDAQ:NDSN)

Carnegie Investment Counsel lowered its position in shares of Nordson Co. (NASDAQ:NDSN) by 17.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,765 shares of the industrial products company’s stock after selling 572 shares during the period. Carnegie Investment Counsel’s holdings in Nordson were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Nordson during the 1st quarter worth about $55,000. Christopher J. Hasenberg Inc purchased a new position in Nordson in the first quarter valued at approximately $58,000. Crewe Advisors LLC purchased a new stake in shares of Nordson during the first quarter worth $67,000. Clarity Asset Management Inc. bought a new position in shares of Nordson in the fourth quarter worth $88,000. Finally, Sound Income Strategies LLC increased its stake in Nordson by 217.8% in the first quarter. Sound Income Strategies LLC now owns 321 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 220 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 1.1 %

Shares of Nordson stock traded up $2.66 during trading hours on Wednesday, reaching $242.13. 58,454 shares of the company were exchanged, compared to its average volume of 240,300. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 2.21. The stock’s fifty day moving average is $235.40 and its 200 day moving average is $251.61. The firm has a market cap of $13.87 billion, a PE ratio of 28.54, a PEG ratio of 1.97 and a beta of 0.91. Nordson Co. has a 1 year low of $208.91 and a 1 year high of $279.38.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share (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 during the quarter, compared to analysts’ expectations of $661.06 million. During the same period in the prior year, the company posted $2.26 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that Nordson Co. will post 9.52 earnings per share for the current year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $0.78 dividend. The ex-dividend date is Tuesday, August 27th. This is a positive change from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 1.29%. Nordson’s dividend payout ratio is currently 37.19%.

Analyst Ratings Changes

NDSN has been the subject of several research analyst reports. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. DA Davidson cut their price target on Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Robert W. Baird dropped their price target 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.40.

Nordson 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.