Nordson Co. (NASDAQ:NDSN) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,448 shares of the industrial products company’s stock after selling 2,170 shares during the period. NewEdge Wealth LLC’s holdings in Nordson were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NDSN. State Street Corp boosted its stake in shares of Nordson by 7.2% during the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock valued at $692,916,000 after buying an additional 177,282 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Nordson by 71.0% during the 3rd quarter. Natixis Advisors LLC now owns 157,582 shares of the industrial products company’s stock valued at $41,386,000 after buying an additional 65,436 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Nordson by 23.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after buying an additional 61,430 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nordson by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock valued at $135,138,000 after buying an additional 48,720 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Nordson by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 510,239 shares of the industrial products company’s stock valued at $106,762,000 after buying an additional 28,967 shares during the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NDSN. DA Davidson reduced their target price on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. BNP Paribas cut Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a research note on Monday. Loop Capital upgraded Nordson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $237.00 price objective (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.25.

Nordson Stock Performance

NDSN stock opened at $209.50 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.65 and a beta of 0.95. Nordson Co. has a 1 year low of $196.83 and a 1 year high of $279.38. The stock’s fifty day moving average is $213.42 and its two-hundred day moving average is $238.22.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The company had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. On average, research analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, January 2nd. Nordson’s payout ratio is 39.69%.

Insider Buying and Selling at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now directly owns 7,347 shares in the company, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by company insiders.

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.