XXEC Inc. Decreases Stake in Nordson Co. (NASDAQ:NDSN)

XXEC Inc. trimmed its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,786 shares of the industrial products company's stock after selling 10,541 shares during the quarter. Nordson makes up approximately 3.1% of XXEC Inc.'s investment portfolio, making the stock its 16th largest position. XXEC Inc.'s holdings in Nordson were worth $3,722,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Covestor Ltd raised its stake in shares of Nordson by 18.8% during the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company's stock worth $72,000 after buying an additional 43 shares during the period. QRG Capital Management Inc. raised its stake in Nordson by 3.5% in the 3rd quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company's stock valued at $380,000 after purchasing an additional 49 shares during the last quarter. New York Life Investment Management LLC raised its stake in Nordson by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock valued at $1,530,000 after purchasing an additional 49 shares during the last quarter. UMB Bank n.a. raised its stake in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 52 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in Nordson by 1.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company's stock valued at $692,000 after purchasing an additional 56 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Nordson

In related news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares of the company's stock, valued at approximately $1,519,286.13. This represents a 15.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.

Nordson Trading Up 1.8 %

NASDAQ:NDSN traded up $3.77 during trading hours on Friday, hitting $215.31. The company had a trading volume of 398,741 shares, compared to its average volume of 354,574. The company has a market cap of $12.25 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.65 and a beta of 0.92. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. Nordson Co. has a 1 year low of $196.83 and a 1 year high of $279.38. The company has a 50-day moving average of $213.20 and a 200 day moving average of $237.24.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly 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). The business had revenue of $615.42 million for the quarter, compared to analysts' expectations of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Sell-side analysts expect that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, March 20th. Nordson's dividend payout ratio is presently 39.69%.

Analysts Set New Price Targets

Several research firms recently commented on NDSN. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a research note on Monday, February 24th. Robert W. Baird reissued a "neutral" rating and issued a $237.00 price objective (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Baird R W cut Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Loop Capital upgraded Nordson from a "hold" rating to a "buy" rating and upped their target price for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded Nordson from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.20.

Nordson Company Profile

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.