State Treasurer State of Michigan trimmed its stake in Nordson Corporation (NASDAQ:NDSN) by 13.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,060 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Nordson Corporation were worth $2,259,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Nordson Corporation by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 79,137 shares of the industrial products company’s stock worth $9,601,000 after purchasing an additional 1,751 shares in the last quarter. FMR LLC acquired a new stake in Nordson Corporation in the first quarter valued at $44,110,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Nordson Corporation by 4.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 416,003 shares of the industrial products company’s stock valued at $50,471,000 after acquiring an additional 19,044 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Nordson Corporation by 44.0% in the second quarter. BNP Paribas Arbitrage SA now owns 26,298 shares of the industrial products company’s stock valued at $3,190,000 after acquiring an additional 8,039 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Nordson Corporation by 16.5% during the second quarter. Pacer Advisors Inc. now owns 7,374 shares of the industrial products company’s stock worth $895,000 after purchasing an additional 1,047 shares during the period. Hedge funds and other institutional investors own 65.30% of the company’s stock.
In related news, VP James E. Devries sold 5,000 shares of Nordson Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the completion of the transaction, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.15% of the company’s stock.
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Several equities analysts have recently commented on the stock. Gabelli upgraded shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, August 23rd. B. Riley reiterated a “buy” rating on shares of Nordson Corporation in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Nordson Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Longbow Research upgraded shares of Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, September 20th. Finally, BidaskClub lowered shares of Nordson Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $140.33.
Nordson Corporation (NASDAQ:NDSN) opened at $123.87 on Friday. The company has a market capitalization of $7,146.31, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.40. The company has a quick ratio of 1.47, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Nordson Corporation has a 1-year low of $103.37 and a 1-year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $574.20 million. During the same period in the prior year, the firm earned $1.67 EPS. The company’s revenue was up 20.3% compared to the same quarter last year. equities research analysts predict that Nordson Corporation will post 5.32 earnings per share for the current year.
Nordson Corporation 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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