Vanguard Group Inc. Boosts Holdings in Nordson Co. (NASDAQ:NDSN)

Posted by on Mar 13th, 2023

Vanguard Group Inc. raised its holdings in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,050,206 shares of the industrial products company’s stock after acquiring an additional 16,460 shares during the quarter. Vanguard Group Inc. owned approximately 10.58% of Nordson worth $1,284,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NDSN. D.A. Davidson & CO. boosted its stake in shares of Nordson by 18.4% during the 1st quarter. D.A. Davidson & CO. now owns 947 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 147 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Nordson by 461.0% during the 1st quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock worth $1,203,000 after purchasing an additional 4,352 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Nordson by 7.5% during the 1st quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock worth $490,000 after purchasing an additional 150 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Nordson during the 1st quarter worth about $219,000. Finally, Sei Investments Co. boosted its stake in shares of Nordson by 2.1% during the 1st quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock worth $10,615,000 after purchasing an additional 970 shares during the last quarter. 70.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on NDSN. Robert W. Baird decreased their price target 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 cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Nordson presently has a consensus rating of “Hold” and an average target price of $255.20.

Insider Activity at Nordson

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

Nordson Price Performance

NDSN opened at $212.92 on Monday. The company’s 50 day simple moving average is $234.97 and its 200 day simple moving average is $229.94. 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. The stock has a market capitalization of $12.19 billion, a PE ratio of 24.82, a P/E/G ratio of 1.81 and a beta of 0.91.

Nordson (NASDAQ:NDSN – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.95 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 business had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $625.87 million. During the same quarter in the previous year, the business posted $2.07 EPS. As a group, sell-side analysts expect that Nordson Co. will post 9.03 EPS for the current year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were issued a $0.65 dividend. The ex-dividend date was Friday, February 17th. This represents a $2.60 annualized dividend and a yield of 1.22%. Nordson’s payout ratio is 30.30%.

Nordson Company 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.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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