First Trust Advisors LP lowered its stake in Nordson Co. (NASDAQ:NDSN – Get Rating) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,156 shares of the industrial products company’s stock after selling 3,027 shares during the period. First Trust Advisors LP owned approximately 0.16% of Nordson worth $18,925,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in NDSN. D.A. Davidson & CO. raised its position in Nordson by 18.4% in the 1st quarter. D.A. Davidson & CO. now owns 947 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 147 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Nordson by 461.0% in the first quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock valued at $1,203,000 after acquiring an additional 4,352 shares during the period. Raymond James Trust N.A. grew its stake in Nordson by 7.5% in the first quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 150 shares during the period. Vontobel Holding Ltd. acquired a new position in Nordson in the first quarter valued at about $219,000. Finally, Sei Investments Co. boosted its position in shares of Nordson by 2.1% during the first quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock worth $10,615,000 after buying an additional 970 shares during the period. 70.40% of the stock is owned by institutional investors.
Insider Buying and Selling at Nordson
In other news, EVP Shelly Peet sold 1,692 shares of the business’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 transaction of $397,620.00. Following the completion of the transaction, 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 can be accessed through the SEC website. In other Nordson news, EVP Shelly Peet sold 1,692 shares of Nordson stock in a transaction 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 in the company, valued at approximately $6,224,445. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey A. Pembroke sold 5,000 shares of Nordson stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 17,600 shares of the company’s stock, valued at $4,285,248. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,403 shares of company stock valued at $2,515,941. Corporate insiders own 0.70% of the company’s stock.
Nordson Trading Down 1.0 %
Nordson (NASDAQ:NDSN – Get Rating) last posted its quarterly earnings results 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). The business had revenue of $610.48 million for the quarter, compared to analysts’ expectations of $625.87 million. Nordson had a net margin of 19.18% and a return on equity of 23.67%. During the same quarter in the previous year, the company earned $2.07 earnings per share. As a group, analysts anticipate that Nordson Co. will post 9.03 earnings per share for the current year.
Nordson Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, February 17th. Nordson’s payout ratio is currently 30.30%.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd. Robert W. Baird reduced their price target on Nordson from $259.00 to $241.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $255.20.
Nordson Company Profile
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.
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