Tower Research Capital LLC TRC Raises Position in Nordson Co. (NDSN)

Tower Research Capital LLC TRC raised its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 1,123.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,589 shares of the industrial products company’s stock after buying an additional 5,132 shares during the period. Tower Research Capital LLC TRC’s holdings in Nordson were worth $777,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. King Luther Capital Management Corp purchased a new stake in shares of Nordson in the 2nd quarter valued at approximately $690,000. Janney Montgomery Scott LLC lifted its position in shares of Nordson by 18.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,071 shares of the industrial products company’s stock valued at $4,455,000 after acquiring an additional 4,886 shares in the last quarter. American International Group Inc. lifted its position in shares of Nordson by 1.0% in the 2nd quarter. American International Group Inc. now owns 103,315 shares of the industrial products company’s stock valued at $13,267,000 after acquiring an additional 1,009 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Nordson by 71.8% in the 3rd quarter. First Trust Advisors LP now owns 95,951 shares of the industrial products company’s stock valued at $13,328,000 after acquiring an additional 40,105 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Nordson by 45.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 282,042 shares of the industrial products company’s stock valued at $36,218,000 after acquiring an additional 88,485 shares in the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Several equities research analysts recently commented on the stock. ValuEngine downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research downgraded shares of Nordson from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. BidaskClub upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, DA Davidson set a $160.00 target price on shares of Nordson and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Nordson has a consensus rating of “Hold” and a consensus target price of $151.57.

NDSN stock opened at $116.13 on Thursday. Nordson Co. has a 12-month low of $111.17 and a 12-month high of $151.84. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.36. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.35 and a beta of 1.34.

Nordson declared that its board has authorized a share repurchase plan on Tuesday, September 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other Nordson news, Director Mary G. Puma sold 2,983 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total value of $433,847.52. Following the completion of the sale, the director now owns 18,799 shares in the company, valued at approximately $2,734,126.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.01% of the stock is owned by corporate insiders.

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Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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