Hsbc Holdings PLC cut its stake in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,451 shares of the industrial products company’s stock after selling 6,729 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Nordson worth $10,162,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NDSN. Pictet Asset Management SA increased its position in Nordson by 3.3% in the 3rd quarter. Pictet Asset Management SA now owns 25,989 shares of the industrial products company’s stock valued at $5,517,000 after buying an additional 834 shares in the last quarter. Brown Advisory Inc. lifted its stake in Nordson by 7.5% in the third quarter. Brown Advisory Inc. now owns 3,800 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 265 shares during the last quarter. Intech Investment Management LLC raised its holdings in Nordson by 1,164.2% during the 3rd quarter. Intech Investment Management LLC now owns 94,319 shares of the industrial products company’s stock valued at $20,021,000 after acquiring an additional 86,858 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Nordson by 10.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 24,016 shares of the industrial products company’s stock valued at $5,098,000 after acquiring an additional 2,229 shares during the period. Finally, Condor Capital Management increased its holdings in shares of Nordson by 1.5% in the third quarter. Condor Capital Management now owns 7,662 shares of the industrial products company’s stock worth $1,626,000 after purchasing an additional 111 shares during the period. 70.40% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on NDSN. Robert W. Baird decreased their price target on shares of Nordson from $259.00 to $241.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Finally, DA Davidson lowered their price objective on shares of Nordson to $265.00 in a report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and a consensus price target of $255.20.
Insider Buying and Selling
In related news, EVP Shelly Peet sold 1,611 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $238.00, for a total transaction of $383,418.00. Following the completion of the transaction, the executive vice president now owns 25,061 shares in the company, valued at approximately $5,964,518. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Joseph P. Kelley sold 2,100 shares of the stock in a transaction on Monday, February 6th. The shares were sold at an average price of $246.43, for a total value of $517,503.00. Following the sale, the chief financial officer now owns 9,091 shares in the company, valued at $2,240,295.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shelly Peet sold 1,611 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $238.00, for a total transaction of $383,418.00. Following the completion of the sale, the executive vice president now owns 25,061 shares in the company, valued at approximately $5,964,518. The disclosure for this sale can be found here. Insiders sold a total of 10,403 shares of company stock worth $2,515,941 in the last 90 days. 0.70% of the stock is owned by corporate insiders.
Nordson Stock Performance
Shares of NASDAQ NDSN opened at $221.04 on Thursday. The firm’s fifty day moving average is $239.01 and its two-hundred day moving average is $231.71. Nordson Co. has a 52-week low of $194.89 and a 52-week high of $251.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.43. The company has a market cap of $12.64 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.74 and a beta of 0.91.
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.03). Nordson had a net margin of 19.18% and a return on equity of 23.67%. The company had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $625.87 million. During the same period last year, the firm earned $2.07 earnings per share. As a group, analysts anticipate that Nordson Co. will post 9.35 EPS for the current fiscal year.
Nordson Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. Nordson’s dividend payout ratio (DPR) is presently 30.30%.
Nordson Profile
Nordson Corp. engages in the engineering, manufacture and market of products and systems used for 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 technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.
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