Hartford Investment Management Co. Sells 546 Shares of Nordson Co. (NASDAQ:NDSN)

Posted by Defense World Staff on Aug 19th, 2023

Hartford Investment Management Co. lowered its stake in shares of Nordson Co. (NASDAQ:NDSN – Free Report) by 10.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,527 shares of the industrial products company’s stock after selling 546 shares during the period. Hartford Investment Management Co.’s holdings in Nordson were worth $1,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NDSN. Wealth Alliance lifted its stake in shares of Nordson by 3.2% in the 4th quarter. Wealth Alliance now owns 1,348 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 42 shares during the period. Parallel Advisors LLC lifted its stake in shares of Nordson by 4.1% in the 4th quarter. Parallel Advisors LLC now owns 1,092 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 43 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Nordson by 0.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,983 shares of the industrial products company’s stock worth $3,312,000 after purchasing an additional 47 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Nordson by 13.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 421 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 49 shares during the period. Finally, DnB Asset Management AS lifted its stake in shares of Nordson by 0.4% in the 1st quarter. DnB Asset Management AS now owns 12,315 shares of the industrial products company’s stock worth $2,737,000 after purchasing an additional 49 shares during the period. Institutional investors own 71.18% of the company’s stock.

Insider Activity at Nordson

In related news, Director Mary G. Puma sold 2,099 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $245.92, for a total value of $516,186.08. Following the completion of the transaction, the director now directly owns 16,835 shares of the company’s stock, valued at $4,140,063.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Nordson Trading Down 0.5 %

Shares of NDSN opened at $232.33 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.17 and a quick ratio of 0.72. Nordson Co. has a 1 year low of $202.57 and a 1 year high of $253.40. The company has a 50 day simple moving average of $243.03 and a two-hundred day simple moving average of $229.01. The firm has a market cap of $13.24 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.94.

Nordson (NASDAQ:NDSN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 23rd. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. Nordson had a net margin of 19.75% and a return on equity of 22.40%. The business had revenue of $650.17 million during the quarter, compared to analyst estimates of $638.87 million. During the same period last year, the firm posted $2.43 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Nordson Co. will post 9.06 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 22nd will be issued a $0.68 dividend. The ex-dividend date is Monday, August 21st. This is a positive change from Nordson’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.17%. Nordson’s dividend payout ratio (DPR) is 29.18%.

Analysts Set New Price Targets

NDSN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Nordson from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. KeyCorp raised their target price on shares of Nordson from $255.00 to $270.00 in a research note on Thursday, June 22nd. StockNews.com assumed coverage on shares of Nordson in a research note on Thursday. They set a “buy” rating on the stock. Finally, Robert W. Baird increased their price objective on shares of Nordson from $241.00 to $251.00 in a report on Wednesday, May 24th.

View Our Latest Stock Report on Nordson

Nordson Profile

(Free Report)

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.