Chevy Chase Trust Holdings LLC increased its stake in Nordson Co. (NASDAQ:NDSN – Get Rating) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,012 shares of the industrial products company after purchasing an additional 472 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Nordson for $7,008,000 at the time of its most recent SEC filing.
→ The next big crisis is here (By Porter & Company)
Other institutional investors have also changed their stakes in the company. Ensign Peak Advisors Inc increased its holdings of Nordson stock by 0.3% during the second quarter. Ensign Peak Advisors Inc now owns 17,514 shares of the industrial products company valued at $3,545,000 after purchasing an additional 50 shares during the period. Hartford Investment Management Co. increased its position in Nordson shares by 1.0% in the second quarter. Hartford Investment Management Co. now owns 5,206 shares of the industrial products company valued at $1,054,000 after purchasing an additional 51 shares during the period. Cetera Investment Advisers increased its stake in Nordson by 4.0% in the second quarter. Cetera Investment Advisers now owns 1,361 shares of the industrial products company, valued at $276,000, after purchasing an additional 52 shares during the period. Allspring Global Investments Holdings LLC increased its position in Nordson shares by 1.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,522 shares of the industrial products company, valued at $747,000, after purchasing an additional 52 shares last quarter. Finally, the Arizona State Retirement System increased its stake in Nordson shares by 0.4% during the second quarter. The Arizona State Retirement System now owns 14,616 shares of the industrial products company valued at $2,959,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 70.40% of the company’s shares.
Insider Activities at Nordson
In other news, EVP Shelly Peet sold 1,611 shares of the stock in a transaction that took place on Monday January 9th. The stock sold at an average price of $238.00 for a total transaction of $383,418.00. Upon closing of the transaction, the Executive Vice President now directly owns 25,061 shares of the Company valued at approximately $5,964,518. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. 0.75% of the shares are owned by insiders.
Nordson stock up 1.8%
Nordson shares opened at $239.58 on Monday. The stock has a 50-day simple moving average of $236.94 and a 200-day simple moving average of $229.20. The company has a market cap of $13.69 billion, a P/E of 27.16, a PEG ratio of 1.95, and a beta of 0.90. The company has a leverage ratio of 0.16, a quick ratio of 0.90 and a current ratio of 1.36. Nordson Co. has a 52-week low of $194.89 and a 52-week high of $247.08.
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Wednesday, December 14th. The industrial products company reported earnings per share (EPS) of $2.44 for the quarter, beating the consensus estimate of $2.33 by $0.11. The company had revenue of $683.58 million for the quarter, compared to analysts’ expectations of $654.46 million. Nordson had a return on equity of 24.69% and a net margin of 19.81%. Equities analysts expect Nordson Co. to report year-to-date earnings per share of 9.47.
Nordson Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. A dividend of $0.65 per share was paid to investors of record on Tuesday, December 20th. The ex-dividend date was Monday December 19th. That equates to an annualized dividend of $2.60 and a yield of 1.09%. Nordson’s payout ratio is currently 29.48%.
Changes in analyst ratings
Several analysts have recently rated NDSN shares. Robert W. Baird lowered his target price on Nordson shares to $259.00 from $264.00 and gave the company a rating of “above average” in a report on Friday, December 16. StockNews.com upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report Wednesday, January 25th. DA Davidson lowered its price target on Nordson shares to $265.00 in a report on Thursday, October 27. Finally, Wells Fargo & Company lowered its price target on Nordson shares to $270.00 from $310.00 and rated the company as “overweight” in a research report on Monday, October 24. Two research analysts have assigned a hold rating to the stock and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nordson has a consensus rating of “Moderate Buy” and an average target price of $258.80.
Nordson Corporate Profile
(received rating)
Nordson Corp. is engaged in the development, manufacture and marketing of products and systems used in adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technological synergies between adhesive application systems and industrial coating systems to provide proprietary application and processing technologies for various end markets.
Continue reading
Want to see what other hedge funds are holding NDSN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Nordson Co. (NASDAQ:NDSN – Get Rating).
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]
Hear this before you consider Nordson.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Nordson wasn’t on the list.
While Nordson currently has a moderate buy rating among analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here
