Azimuth Capital Investment Management LLC bought a new position in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) during the second quarter, according to its most recent filing with the SEC. The fund bought 7,845 shares of the industrial products company's stock, valued at approximately $1,588,000.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Nordson by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 5,997,575 shares of the industrial products company's stock worth $1,361,928,000 after purchasing an additional 850,479 shares during the period. State Street Corp increased its holdings in Nordson by 19.1% in the 1st quarter. State Street Corp now owns 2,467,509 shares of the industrial products company's stock worth $560,322,000 after acquiring an additional 395,419 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Nordson by 1.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,233,243 shares of the industrial products company's stock worth $280,045,000 after acquiring an additional 22,237 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Nordson by 0.9% in the 1st quarter. Champlain Investment Partners LLC now owns 888,335 shares of the industrial products company's stock worth $201,723,000 after acquiring an additional 8,082 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in Nordson by 1.4% in the 1st quarter. Royal London Asset Management Ltd. now owns 877,147 shares of the industrial products company's stock worth $199,253,000 after acquiring an additional 12,050 shares during the last quarter. 72.03% of the stock is currently owned by institutional investors.
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Nordson Stock Performance
Shares of NDSN opened at $233.59 on Wednesday. The company has a market cap of $13.36 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $221.35 and a 200-day moving average price of $219.35. Nordson Co. has a 12-month low of $194.89 and a 12-month high of $271.90.
Nordson (NASDAQ:NDSN – Get Rating) last issued its quarterly earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.04. The firm had revenue of $662.13 million during the quarter, compared to the consensus estimate of $650.90 million. Nordson had a return on equity of 23.66% and a net
margin of 19.25%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. As a group, equities analysts forecast that Nordson Co. will post 9.32 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Srinivas Subramanian sold 1,480 shares of the business's stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $217.48, for a total value of $321,870.40. Following the completion of the sale, the executive vice president now owns 1,118 shares in the company, valued at approximately $243,142.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Nordson news, EVP James E. Devries sold 4,500 shares of the business's stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $218.42, for a total value of $982,890.00. Following the completion of the sale, the executive vice president now owns 46,605 shares in the company, valued at $10,179,464.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Srinivas Subramanian sold 1,480 shares of the business's stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $217.48, for a total value of $321,870.40. Following the completion of the sale, the executive vice president now owns 1,118 shares of the company's stock, valued at approximately $243,142.64. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on NDSN shares. Robert W. Baird lifted their price objective on Nordson from $232.00 to $271.00 and gave the stock an "outperform" rating in a report on Wednesday, August 24th. StockNews.com raised Nordson from a "hold" rating to a "buy" rating in a report on Tuesday. DA Davidson reduced their target price on Nordson to $265.00 in a report on Thursday, October 27th. Finally, Wells Fargo & Company reduced their target price on Nordson from $310.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $261.20.
About Nordson
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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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).
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