Trexquant Investment LP bought a new stake in Nordson Co. (NASDAQ:NDSN – Get Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,055 shares of the industrial products company's stock, valued at approximately $618,000.
Several other hedge funds also recently bought and sold shares of NDSN. IFM Investors Pty Ltd grew its stake in Nordson by 17.2% in the first quarter. IFM Investors Pty Ltd now owns 8,195 shares of the industrial products company's stock valued at $1,861,000 after acquiring an additional 1,202 shares during the period. Bank of Montreal Can increased its position in shares of 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 acquiring an additional 2,289 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Nordson by 21.5% during the second 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 period. Principal Financial Group Inc. lifted its position in Nordson by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 372,387 shares of the industrial products company's stock valued at $75,386,000 after acquiring an additional 3,975 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Nordson by 52.3% in the 2nd 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 period. 72.03% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NDSN stock opened at $236.08 on Friday. Nordson Co. has a 52-week low of $194.89 and a 52-week high of $271.90. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.82 and a beta of 0.92. The firm's 50-day moving average is $222.08 and its 200-day moving average is $219.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.35.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on NDSN. Wells Fargo & Company reduced their price objective on Nordson from $310.00 to $270.00 and set an "overweight" rating for the company in a research report on Monday, October 24th. StockNews.com upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research note on Tuesday. Robert W. Baird upped their target price on Nordson from $232.00 to $271.00 and gave the stock an "outperform" rating in a report on Wednesday, August 24th. Finally, DA Davidson lowered their price target on Nordson to $265.00 in a research report on Thursday, October 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.20.Insiders Place Their Bets
In other news, EVP James E. Devries sold 4,500 shares of Nordson stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $218.42, for a total transaction of $982,890.00. Following the completion of the transaction, the executive vice president now directly owns 46,605 shares in the company, valued at approximately $10,179,464.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Srinivas Subramanian sold 1,480 shares of the company's stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $217.48, for a total value of $321,870.40. Following the transaction, the executive vice president now owns 1,118 shares in the company, valued at approximately $243,142.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James E. Devries sold 4,500 shares of the firm'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 transaction of $982,890.00. Following the sale, the executive vice president now owns 46,605 shares of the company's stock, valued at $10,179,464.10. The disclosure for this sale can be found here. Company insiders own 0.87% of the company's stock.
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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