Deutsche Bank AG reduced its holdings in Nordson Co. (NASDAQ:NDSN – Get Rating) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,711 shares of the industrial products company's stock after selling 8,530 shares during the quarter. Deutsche Bank AG owned 0.25% of Nordson worth $29,497,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NDSN. Norris Perne & French LLP MI increased its position in shares of Nordson by 1.7% during the 2nd quarter. Norris Perne & French LLP MI now owns 59,011 shares of the industrial products company's stock valued at $11,946,000 after purchasing an additional 1,002 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Nordson during the 2nd quarter valued at about $104,000. GHP Investment Advisors Inc. increased its position in shares of Nordson by 3.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 47,399 shares of the industrial products company's stock valued at $9,595,000 after purchasing an additional 1,642 shares during the last quarter. Capital Asset Advisory Services LLC increased its position in shares of Nordson by 3.2% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 5,239 shares of the industrial products company's stock valued at $1,061,000 after purchasing an additional 163 shares during the last quarter. Finally, State Farm Mutual Automobile Insurance Co. increased its position in shares of Nordson by 14.8% during the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 178,000 shares of the industrial products company's stock valued at $36,034,000 after purchasing an additional 22,888 shares during the last quarter. 72.03% of the stock is currently owned by institutional investors.
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Insider Transactions at Nordson
In other news, EVP Srinivas Subramanian sold 1,480 shares of the 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 transaction, the executive vice president now owns 1,118 shares of the company's stock, valued at approximately $243,142.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Srinivas Subramanian sold 1,480 shares of the 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 transaction, the executive vice president now owns 1,118 shares of the company's stock, valued at approximately $243,142.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James E. Devries sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $218.42, for a total value of $982,890.00. Following the transaction, the executive vice president now directly owns 46,605 shares of the company's stock, valued at approximately $10,179,464.10. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company's stock.
Nordson Trading Up 0.3 %
NASDAQ NDSN opened at $234.40 on Friday. Nordson Co. has a fifty-two week low of $194.89 and a fifty-two week high of $271.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.35. The stock has a 50 day simple moving average of $221.73 and a two-hundred day simple moving average of $219.56. The stock has a market cap of $13.41 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.82 and a beta of 0.92.
Nordson (NASDAQ:NDSN – Get Rating) last announced its earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.04. Nordson had a return on equity of 23.66% and a net margin of 19.25%. The firm had revenue of $662.13 million during the quarter, compared to analyst estimates of $650.90 million. During the same quarter in the prior year, the company earned $2.42 EPS. The business's revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that Nordson Co. will post 9.32 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages recently weighed in on NDSN. StockNews.com upgraded Nordson from a "hold" rating to a "buy" rating in a report on Tuesday. Robert W. Baird increased their target price on Nordson from $232.00 to $271.00 and gave the company an "outperform" rating in a report on Wednesday, August 24th. DA Davidson dropped their target price on Nordson to $265.00 in a report on Thursday, October 27th. Finally, Wells Fargo & Company dropped 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $261.20.
Nordson Company Profile
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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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