Verition Fund Management LLC reduced its stake in shares of Nordson Co. (NASDAQ:NDSN) by 33.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,393 shares of the industrial products company’s stock after selling 2,739 shares during the period. Verition Fund Management LLC’s holdings in Nordson were worth $790,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Nordson by 0.9% during the 4th quarter. BlackRock Inc. now owns 4,311,022 shares of the industrial products company’s stock worth $631,134,000 after purchasing an additional 38,879 shares in the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Nordson by 2.4% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 1,818,852 shares of the industrial products company’s stock worth $266,280,000 after purchasing an additional 42,138 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Nordson by 85.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,151,500 shares of the industrial products company’s stock worth $136,453,000 after purchasing an additional 530,100 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Nordson by 0.8% during the 4th quarter. Champlain Investment Partners LLC now owns 974,340 shares of the industrial products company’s stock worth $142,643,000 after purchasing an additional 7,555 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Nordson by 107.7% during the 4th quarter. Wells Fargo & Company MN now owns 970,315 shares of the industrial products company’s stock worth $142,053,000 after purchasing an additional 503,093 shares in the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Michael F. Hilton sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $137.11, for a total value of $6,855,500.00. Following the transaction, the chief executive officer now owns 225,774 shares in the company, valued at $30,955,873.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Shelly Peet sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $148.90, for a total value of $2,233,500.00. Following the completion of the transaction, the vice president now owns 29,170 shares in the company, valued at approximately $4,343,413. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,003 shares of company stock worth $26,852,329. 2.01% of the stock is owned by company insiders.
Nordson Co. (NASDAQ NDSN) opened at $139.52 on Tuesday. The stock has a market capitalization of $8,073.85, a P/E ratio of 23.25, a PEG ratio of 1.65 and a beta of 1.32. The company has a quick ratio of 1.07, a current ratio of 1.52 and a debt-to-equity ratio of 0.97. Nordson Co. has a twelve month low of $107.16 and a twelve month high of $151.84.
Nordson (NASDAQ:NDSN) last released its earnings results on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. Nordson had a return on equity of 30.41% and a net margin of 15.85%. The company had revenue of $550.42 million during the quarter, compared to analyst estimates of $538.21 million. During the same period in the prior year, the company posted $0.86 earnings per share. Nordson’s quarterly revenue was up 35.1% on a year-over-year basis. analysts anticipate that Nordson Co. will post 6.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 0.86%. Nordson’s payout ratio is 20.00%.
A number of analysts have commented on NDSN shares. Zacks Investment Research lowered Nordson from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. BidaskClub lowered Nordson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Oppenheimer reaffirmed a “hold” rating on shares of Nordson in a report on Thursday, December 14th. B. Riley reaffirmed a “buy” rating and issued a $160.00 target price on shares of Nordson in a report on Wednesday, December 13th. Finally, Gabelli lowered Nordson from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $152.40.
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Nordson Company Profile
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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