NewEdge Wealth LLC lowered its stake in Nordson Co. (NASDAQ:NDSN - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,448 shares of the industrial products company's stock after selling 2,170 shares during the period. NewEdge Wealth LLC's holdings in Nordson were worth $4,069,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Nordson by 130.0% in the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company's stock valued at $42,000 after buying an additional 91 shares during the last quarter. UMB Bank n.a. grew its position in shares of Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock worth $53,000 after acquiring an additional 52 shares in the last quarter. Covestor Ltd increased its holdings in shares of Nordson by 18.8% in the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 43 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Nordson by 695.0% during the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company's stock valued at $67,000 after acquiring an additional 278 shares in the last quarter. Finally, Quarry LP bought a new position in Nordson during the third quarter worth $109,000. Institutional investors and hedge funds own 72.11% of the company's stock.
Wall Street Analysts Forecast Growth
NDSN has been the subject of several research reports. Baird R W lowered shares of Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. BNP Paribas cut Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target on the stock. in a research report on Monday, February 24th. Seaport Res Ptn upgraded Nordson from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. DA Davidson dropped their target price on Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Finally, Loop Capital raised shares of Nordson from a "hold" rating to a "buy" rating and boosted their price target for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.25.
Check Out Our Latest Analysis on Nordson
Insider Activity at Nordson
In related news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the transaction, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. The trade was a 15.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.80% of the company's stock.
Nordson Price Performance
Nordson stock traded down $3.19 during trading hours on Monday, hitting $207.10. 370,689 shares of the company traded hands, compared to its average volume of 351,645. The firm's 50-day simple moving average is $213.43 and its two-hundred day simple moving average is $238.08. The firm has a market cap of $11.79 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.65 and a beta of 0.95. Nordson Co. has a 1-year low of $196.83 and a 1-year high of $279.38. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.
Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. As a group, analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.
Nordson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.51%. Nordson's payout ratio is currently 39.69%.
Nordson 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.
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