Principal Financial Group Inc. Boosts Stock Position in Nordson Co. (NASDAQ:NDSN)

Principal Financial Group Inc. increased its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 4.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 295,962 shares of the industrial products company's stock after acquiring an additional 13,184 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of Nordson worth $77,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NDSN. Ashton Thomas Private Wealth LLC acquired a new stake in Nordson in the second quarter valued at approximately $27,000. Tortoise Investment Management LLC grew its stake in Nordson by 70.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 58 shares during the period. Blue Trust Inc. increased its holdings in Nordson by 130.0% in the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company's stock worth $42,000 after acquiring an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Nordson during the second quarter worth $46,000. Finally, UMB Bank n.a. lifted its holdings in Nordson by 2,387.5% during the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NDSN. Seaport Res Ptn raised shares of Nordson from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. DA Davidson cut their price objective on Nordson from $295.00 to $285.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Baird R W downgraded Nordson from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $237.00 price target (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Nordson has a consensus rating of "Moderate Buy" and an average price target of $279.00.

Insiders Place Their Bets

In other news, EVP Joseph P. Kelley sold 3,000 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares of the company's stock, valued at $2,164,576.82. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the transaction, the executive vice president now owns 3,287 shares of the company's stock, valued at approximately $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,629 shares of company stock valued at $914,400 over the last ninety days. Company insiders own 0.86% of the company's stock.

Nordson Price Performance

NDSN stock traded up $0.79 during mid-day 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. The stock has a market cap of $11.96 billion, a PE ratio of 25.86, a P/E/G ratio of 1.70 and a beta of 0.90. The company's 50 day moving average is $250.25 and its two-hundred day moving average is $245.30. Nordson Co. has a fifty-two week low of $207.15 and a fifty-two week high of $279.38. The company has a current ratio of 2.41, a quick ratio of 1.52 and a debt-to-equity ratio of 0.72.

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

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.49%. Nordson's payout ratio is currently 38.47%.

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.