Tudor Investment Corp Et Al Takes Position in Nordson Co. (NASDAQ:NDSN)

Posted by Defense World Staff on Mar 6th, 2023

Tudor Investment Corp Et Al bought a new position in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,217 shares of the industrial products company’s stock, valued at approximately $683,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors Inc. increased its stake in Nordson by 32.0% in the third quarter. Laurel Wealth Advisors Inc. now owns 5,252 shares of the industrial products company’s stock valued at $1,115,000 after purchasing an additional 1,274 shares during the period. Heritage Wealth Management LLC grew its stake in shares of Nordson by 2.8% in the 3rd quarter. Heritage Wealth Management LLC now owns 2,422 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 65 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Nordson by 55.1% in the third quarter. Cubist Systematic Strategies LLC now owns 34,540 shares of the industrial products company’s stock valued at $7,332,000 after purchasing an additional 12,272 shares during the period. Verition Fund Management LLC raised its stake in shares of Nordson by 139.5% during the third quarter. Verition Fund Management LLC now owns 2,531 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Nordson by 0.8% during the third quarter. Lazard Asset Management LLC now owns 100,557 shares of the industrial products company’s stock worth $21,344,000 after purchasing an additional 749 shares during the period. Hedge funds and other institutional investors own 70.40% of the company’s stock.

Insider Buying and Selling

In other Nordson news, EVP Shelly Peet sold 1,692 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $235.00, for a total value of $397,620.00. Following the completion of the transaction, the executive vice president now directly owns 26,487 shares in the company, valued at approximately $6,224,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Shelly Peet sold 1,692 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $235.00, for a total value of $397,620.00. Following the sale, the executive vice president now directly owns 26,487 shares of the company’s stock, valued at $6,224,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey A. Pembroke sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $243.48, for a total transaction of $1,217,400.00. Following the transaction, the executive vice president now directly owns 17,600 shares of the company’s stock, valued at approximately $4,285,248. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,403 shares of company stock worth $2,515,941. 0.70% of the stock is owned by insiders.

Nordson Price Performance

NDSN stock opened at $222.99 on Monday. The stock’s 50 day moving average price is $236.85 and its 200 day moving average price is $230.72. The firm has a market cap of $12.77 billion, a P/E ratio of 25.99, a PEG ratio of 1.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43. Nordson Co. has a 1 year low of $194.89 and a 1 year high of $251.26.

Nordson (NASDAQ:NDSN – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.03). Nordson had a net margin of 19.18% and a return on equity of 23.67%. The company had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $625.87 million. During the same quarter in the prior year, the company earned $2.07 earnings per share. On average, sell-side analysts expect that Nordson Co. will post 9.03 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, February 17th. Nordson’s payout ratio is 30.30%.

Analyst Upgrades and Downgrades

NDSN has been the topic of several recent research reports. Robert W. Baird dropped their price objective on shares of Nordson from $259.00 to $241.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, February 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Nordson presently has an average rating of “Hold” and a consensus target price of $255.20.

Nordson Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.