Sumitomo Mitsui Trust Group Inc. Grows Position in Nordson Co. (NASDAQ:NDSN)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,656 shares of the industrial products company's stock after buying an additional 4,231 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Nordson worth $31,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Nordson by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company's stock valued at $1,680,769,000 after purchasing an additional 52,443 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Nordson by 2.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company's stock valued at $601,032,000 after purchasing an additional 68,810 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Nordson by 10.4% in the 1st quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company's stock valued at $258,764,000 after purchasing an additional 88,966 shares in the last quarter. American Century Companies Inc. lifted its holdings in Nordson by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company's stock valued at $139,624,000 after purchasing an additional 15,947 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Nordson by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company's stock valued at $113,689,000 after purchasing an additional 11,809 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price objective on Nordson from $272.00 to $287.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Two 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 stock has an average rating of "Moderate Buy" and a consensus price target of $299.00.

Nordson Trading Down 0.7 %

Shares of NASDAQ NDSN traded down $1.78 during trading on Friday, hitting $254.78. 290,544 shares of the company were exchanged, compared to its average volume of 221,670. Nordson Co. has a 12-month low of $222.18 and a 12-month high of $279.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The company has a fifty day moving average price of $254.67 and a 200-day moving average price of $246.78. The firm has a market capitalization of $14.57 billion, a PE ratio of 31.03, a P/E/G ratio of 1.89 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 EPS for the quarter, topping 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 analyst estimates of $656.49 million. During the same quarter in the previous year, the firm earned $2.35 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Nordson Co. will post 9.55 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value 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. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the sale, the executive vice president now owns 3,287 shares in the company, valued at approximately $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. 0.86% of the stock is currently owned by corporate insiders.

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.