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Franklin Resources Inc. Raises Stock Position in Nordson Co. (NASDAQ:NDSN)

Nordson logo with Industrial Products background

Franklin Resources Inc. increased its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,697 shares of the industrial products company's stock after buying an additional 4,919 shares during the quarter. Franklin Resources Inc. owned 0.15% of Nordson worth $21,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NDSN. Procyon Advisors LLC boosted its holdings in shares of Nordson by 2.9% during the third quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company's stock worth $367,000 after purchasing an additional 39 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Nordson by 1.0% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company's stock worth $1,052,000 after buying an additional 39 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of Nordson by 1.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company's stock worth $752,000 after buying an additional 42 shares during the last quarter. Covestor Ltd increased its stake in shares of Nordson by 18.8% during the third quarter. Covestor Ltd now owns 272 shares of the industrial products company's stock valued at $72,000 after buying an additional 43 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Nordson by 0.6% during the second quarter. Van ECK Associates Corp now owns 7,724 shares of the industrial products company's stock valued at $1,792,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

Insider Transactions at Nordson

In related news, EVP Stephen Lovass sold 317 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the transaction, the executive vice president now directly owns 6,666 shares in the company, valued at $1,738,159.50. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Mcdonough sold 225 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the transaction, the executive vice president now directly owns 3,287 shares in the company, valued at $862,081.49. This trade represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,629 shares of company stock valued at $914,400. Insiders own 0.86% of the company's stock.

Nordson Stock Up 0.4 %

Shares of NASDAQ:NDSN traded up $0.79 during midday trading on Friday, reaching $209.73. The company's stock had a trading volume of 920,942 shares, compared to its average volume of 248,797. Nordson Co. has a 12-month low of $207.15 and a 12-month high of $279.38. The firm has a market capitalization of $11.99 billion, a P/E ratio of 25.86, a PEG ratio of 1.70 and a beta of 0.90. The firm has a 50 day moving average of $251.19 and a 200-day moving average of $245.32. The company has a quick ratio of 1.52, a current ratio of 2.41 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 19.87%. The business had revenue of $744.00 million during the quarter, compared to the consensus estimate of $736.83 million. During the same quarter last year, the firm earned $2.46 earnings per share. The business's revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Nordson Co. will post 10.34 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.49%. Nordson's dividend payout ratio (DPR) is 38.47%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NDSN shares. Robert W. Baird reiterated a "neutral" rating and issued a $237.00 price target (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. DA Davidson cut their target price on shares of Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. Baird R W downgraded shares of Nordson from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Finally, Seaport Res Ptn raised Nordson from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $279.00.

Read Our Latest Research Report on NDSN

Nordson Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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