Swiss National Bank Boosts Stake in Nordson Co. (NASDAQ:NDSN)

Swiss National Bank lifted its holdings in Nordson Co. (NASDAQ:NDSN) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,500 shares of the industrial products company’s stock after acquiring an additional 600 shares during the period. Swiss National Bank’s holdings in Nordson were worth $42,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NDSN. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Nordson during the 2nd quarter valued at about $27,000. Tortoise Investment Management LLC lifted its position in shares of Nordson by 70.7% during the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Nordson by 130.0% in the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Nordson during the 2nd quarter valued at $46,000. Finally, UMB Bank n.a. increased its stake in Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their target price on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $299.00.

Nordson Stock Up 1.1 %

NDSN stock opened at $252.56 on Thursday. The firm’s 50-day moving average is $254.91 and its two-hundred day moving average is $246.64. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. Nordson Co. has a 52 week low of $222.18 and a 52 week high of $279.38.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.33 by $0.08. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. On average, analysts forecast that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the sale, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

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.