Gulf International Bank UK Ltd Reduces Stock Position in Nordson Co. (NASDAQ:NDSN)

Gulf International Bank UK Ltd cut its stake in shares of Nordson Co. (NASDAQ:NDSN) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,110 shares of the industrial products company’s stock after selling 145 shares during the period. Gulf International Bank UK Ltd’s holdings in Nordson were worth $1,079,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Ashton Thomas Private Wealth LLC bought a new stake in shares of Nordson in the second quarter worth $27,000. Tortoise Investment Management LLC grew its stake 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 valued at $32,000 after purchasing an additional 58 shares during the period. Blue Trust Inc. lifted its stake in shares of Nordson by 130.0% in the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nordson in the second quarter worth approximately $46,000. Finally, Headlands Technologies LLC purchased a new position in shares of Nordson in the first quarter worth approximately $55,000. 72.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by insiders.

Nordson Stock Performance

Shares of NDSN opened at $261.44 on Friday. Nordson Co. has a 52 week low of $220.69 and a 52 week high of $279.38. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.96 and a beta of 0.90. The business has a 50-day simple moving average of $253.84 and a two-hundred day simple moving average of $247.06.

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

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.19%. Nordson’s payout ratio is 38.00%.

Wall Street Analysts Forecast Growth

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

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.