Paloma Partners Management Co lowered its stake in shares of Nordson Co. (NASDAQ:NDSN) by 38.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,441 shares of the industrial products company’s stock after selling 5,963 shares during the period. Paloma Partners Management Co’s holdings in Nordson were worth $1,381,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NDSN. Victory Capital Management Inc. lifted its stake in Nordson by 22.5% during the 3rd quarter. Victory Capital Management Inc. now owns 13,566 shares of the industrial products company’s stock valued at $1,608,000 after acquiring an additional 2,493 shares during the period. New York State Common Retirement Fund lifted its stake in Nordson by 1.1% during the 3rd quarter. New York State Common Retirement Fund now owns 187,437 shares of the industrial products company’s stock valued at $22,211,000 after acquiring an additional 2,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Nordson by 166.7% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,328 shares of the industrial products company’s stock worth $3,238,000 after purchasing an additional 17,080 shares during the period. Rhumbline Advisers lifted its stake in shares of Nordson by 6.6% in the 3rd quarter. Rhumbline Advisers now owns 119,835 shares of the industrial products company’s stock worth $14,200,000 after purchasing an additional 7,439 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Nordson by 1,168.2% in the 3rd quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,507 shares during the period. Institutional investors and hedge funds own 66.70% of the company’s stock.
Nordson stock traded down $5.13 during midday trading on Friday, hitting $131.38. The stock had a trading volume of 180,674 shares, compared to its average volume of 201,382. The firm has a market capitalization of $7,616.49, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.55 and a beta of 1.28. Nordson Co. has a 52-week low of $107.16 and a 52-week high of $151.84. The company has a current ratio of 1.52, a quick ratio of 1.07 and a debt-to-equity ratio of 0.97.
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, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.01. The company had revenue of $550.42 million during the quarter, compared to analyst estimates of $538.21 million. Nordson had a net margin of 15.85% and a return on equity of 30.41%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. analysts predict that Nordson Co. will post 6.33 EPS for the current year.
In related news, CEO Michael F. Hilton sold 55,000 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $138.18, for a total value of $7,599,900.00. Following the completion of the sale, the chief executive officer now directly owns 241,274 shares of the company’s stock, valued at approximately $33,339,241.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory A. Thaxton sold 3,868 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $148.28, for a total transaction of $573,547.04. The disclosure for this sale can be found here. Insiders sold a total of 127,143 shares of company stock valued at $17,732,873 over the last three months. 2.01% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the stock. Robert W. Baird reiterated a “hold” rating and issued a $157.00 price objective on shares of Nordson in a research note on Wednesday. Wells Fargo reiterated a “market perform” rating and issued a $140.00 price objective (down previously from $155.00) on shares of Nordson in a research note on Monday, February 26th. They noted that the move was a valuation call. DA Davidson assumed coverage on shares of Nordson in a research note on Wednesday, February 21st. They issued a “buy” rating and a $160.00 price objective on the stock. SunTrust Banks increased their price objective on shares of Nordson to $166.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Oppenheimer reiterated a “hold” rating on shares of Nordson in a research note on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $154.30.
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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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