Boston Financial Mangement LLC Decreases Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Boston Financial Mangement LLC trimmed its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,023 shares of the industrial products company's stock after selling 3,640 shares during the period. Boston Financial Mangement LLC owned about 0.10% of Nordson worth $14,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in Nordson during the second quarter valued at about $27,000. Tortoise Investment Management LLC increased its position in shares of Nordson by 70.7% during the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company's stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. increased its position in shares of Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company's stock worth $42,000 after purchasing an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Nordson in the 2nd quarter worth $46,000. Finally, UMB Bank n.a. grew its stake in Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company's stock worth $46,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Stock Performance

Shares of NDSN traded down $1.23 during trading hours on Tuesday, reaching $249.14. 234,009 shares of the company traded hands, compared to its average volume of 233,626. 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 business has a fifty day moving average price of $253.79 and a 200-day moving average price of $247.35. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38. The stock has a market capitalization of $14.25 billion, a P/E ratio of 30.50, a P/E/G ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. During the same quarter in the previous year, the business earned $2.35 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.25%. This is a boost from Nordson's previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. Nordson's payout ratio is presently 38.00%.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price target on Nordson from $272.00 to $287.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $299.00.

About Nordson

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.