Meadow Creek Investment Management LLC lessened its stake in shares of Nordson Co. (NASDAQ:NDSN) by 32.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,780 shares of the industrial products company’s stock after selling 11,788 shares during the period. Meadow Creek Investment Management LLC’s holdings in Nordson were worth $3,628,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Two Sigma Investments LP purchased a new position in Nordson during the fourth quarter valued at approximately $14,603,000. Two Sigma Advisers LP purchased a new position in Nordson during the fourth quarter valued at approximately $17,035,000. Deutsche Bank AG increased its holdings in Nordson by 168.1% during the fourth quarter. Deutsche Bank AG now owns 82,151 shares of the industrial products company’s stock valued at $12,024,000 after buying an additional 51,505 shares during the period. Advisor Group Inc. increased its holdings in Nordson by 47.0% during the fourth quarter. Advisor Group Inc. now owns 3,469 shares of the industrial products company’s stock valued at $508,000 after buying an additional 1,109 shares during the period. Finally, Dynamic Capital Management Ltd purchased a new position in Nordson during the fourth quarter valued at approximately $983,000. 66.70% of the stock is owned by hedge funds and other institutional investors.
Nordson Co. (NASDAQ:NDSN) opened at $139.27 on Friday. 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 1-year low of $107.16 and a 1-year high of $151.84. The stock has a market cap of $8,059.36, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.32.
Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.01. Nordson had a net margin of 15.85% and a return on equity of 30.41%. The business had revenue of $550.42 million for the quarter, compared to analyst estimates of $538.21 million. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. sell-side analysts anticipate that Nordson Co. will post 6.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio is currently 20.00%.
In other Nordson news, VP Robert E. Veillette sold 1,594 shares of Nordson stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $142.19, for a total value of $226,650.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael F. Hilton sold 55,000 shares of Nordson stock in a transaction on Friday, March 9th. The stock was sold at an average price of $138.18, for a total transaction of $7,599,900.00. Following the completion of the transaction, the chief executive officer now directly owns 241,274 shares in the company, valued at $33,339,241.32. The disclosure for this sale can be found here. Insiders sold 189,597 shares of company stock worth $27,078,980 over the last ninety days. Corporate insiders own 2.01% of the company’s stock.
NDSN has been the topic of several research reports. KeyCorp reissued a “buy” rating and set a $145.00 price objective on shares of Nordson in a report on Sunday, November 19th. Barrington Research reissued a “market perform” rating on shares of Nordson in a report on Tuesday, January 9th. Zacks Investment Research lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. BidaskClub lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Oppenheimer reissued a “hold” rating on shares of Nordson in a report on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $152.40.
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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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