Nordson Co. (NASDAQ:NDSN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in Nordson Co. (NASDAQ:NDSN - Free Report) by 36.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,350 shares of the industrial products company's stock after selling 9,906 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Nordson were worth $4,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Nordson by 20.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,250 shares of the industrial products company's stock valued at $986,000 after acquiring an additional 714 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Nordson by 7.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,797 shares of the industrial products company's stock worth $1,577,000 after purchasing an additional 465 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Nordson by 61.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company's stock worth $7,224,000 after buying an additional 11,875 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Nordson by 7.0% in the 2nd quarter. Portside Wealth Group LLC now owns 978 shares of the industrial products company's stock valued at $227,000 after buying an additional 64 shares during the period. Finally, Everpar Advisors LLC boosted its stake in shares of Nordson by 2.1% in the second quarter. Everpar Advisors LLC now owns 2,021 shares of the industrial products company's stock valued at $469,000 after buying an additional 42 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Price Performance

Shares of NASDAQ:NDSN traded down $2.65 during midday trading on Friday, hitting $226.46. 720,284 shares of the stock were exchanged, compared to its average volume of 239,897. The stock has a market cap of $12.95 billion, a P/E ratio of 27.92, a PEG ratio of 1.85 and a beta of 0.90. Nordson Co. has a twelve month low of $222.18 and a twelve month high of $279.38. The company has a 50 day moving average price of $253.99 and a 200-day moving average price of $245.73. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 20.12%. The company had revenue of $744.00 million for the quarter, compared to the consensus estimate of $736.83 million. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Nordson Co. will post 10.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Lovass sold 317 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the transaction, the executive vice president now owns 6,666 shares of the company's stock, valued at $1,738,159.50. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer L. Mcdonough sold 225 shares of the firm's 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,629 shares of company stock valued at $914,400. Corporate insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

NDSN has been the subject of a number of recent analyst reports. Baird R W downgraded Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday. Robert W. Baird reiterated a "neutral" rating and issued a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research note on Friday. Finally, DA Davidson lowered their target price on shares of Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $279.00.

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.