Baird Financial Group Inc. cut its stake in Nordson Co. (NASDAQ:NDSN – Get Rating) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,248 shares of the industrial products company's stock after selling 269 shares during the quarter. Baird Financial Group Inc.'s holdings in Nordson were worth $1,669,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NDSN. IFM Investors Pty Ltd lifted its stake in Nordson by 17.2% in the 1st quarter. IFM Investors Pty Ltd now owns 8,195 shares of the industrial products company's stock worth $1,861,000 after purchasing an additional 1,202 shares in the last quarter. Bank of Montreal Can grew its position in Nordson by 8.1% during the first quarter. Bank of Montreal Can now owns 30,540 shares of the industrial products company's stock worth $7,108,000 after buying an additional 2,289 shares in the last quarter. Boston Trust Walden Corp increased its stake in Nordson by 21.5% in the 2nd quarter. Boston Trust Walden Corp now owns 191,128 shares of the industrial products company's stock worth $38,692,000 after acquiring an additional 33,877 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Nordson by 52.3% in the second quarter. TD Asset Management Inc. now owns 57,170 shares of the industrial products company's stock worth $11,573,000 after purchasing an additional 19,624 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of Nordson by 2,651.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 242,935 shares of the industrial products company's stock valued at $55,166,000 after buying an additional 234,107 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors.
Get Nordson alerts:Analyst Ratings Changes
Several research firms have commented on NDSN. StockNews.com downgraded shares of Nordson from a "buy" rating to a "hold" rating in a research note on Monday. Robert W. Baird raised their target price on shares of Nordson from $232.00 to $271.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 24th. Wells Fargo & Company lowered their price objective on shares of Nordson from $310.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, October 24th. Finally, DA Davidson reduced their target price on Nordson to $265.00 in a report on Thursday, October 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Nordson has an average rating of "Hold" and a consensus price target of $261.20.
Insider Activity at Nordson
In other news, EVP James E. Devries sold 4,500 shares of the 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 owns 46,605 shares in the company, valued at approximately $10,179,464.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Srinivas Subramanian sold 1,480 shares of Nordson stock in a transaction on Monday, October 24th. The stock was sold at an average price of $217.48, for a total transaction of $321,870.40. Following the transaction, the executive vice president now directly owns 1,118 shares in the company, valued at $243,142.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James E. Devries sold 4,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $10,179,464.10. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.Nordson Stock Performance
Shares of NDSN stock opened at $229.13 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $221.38 and a 200-day moving average price of $218.97. Nordson Co. has a 52 week low of $194.89 and a 52 week high of $272.28. The firm has a market capitalization of $13.11 billion, a PE ratio of 27.74, a P/E/G ratio of 1.84 and a beta of 0.92.
Nordson (NASDAQ:NDSN – Get Rating) last posted its earnings results on Monday, August 22nd. The industrial products company reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.04. The business had revenue of $662.13 million during the quarter, compared to the consensus estimate of $650.90 million. Nordson had a net margin of 19.25% and a return on equity of 23.66%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. As a group, equities research analysts expect that Nordson Co. will post 9.32 earnings per share for the current year.
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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