TimesSquare Capital Management LLC reduced its stake in shares of Nordson Co. (NASDAQ:NDSN) by 26.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,830 shares of the industrial products company’s stock after selling 152,300 shares during the quarter. TimesSquare Capital Management LLC owned about 0.75% of Nordson worth $61,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in NDSN. Geode Capital Management LLC increased its position in Nordson by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 592,006 shares of the industrial products company’s stock valued at $70,655,000 after acquiring an additional 45,860 shares during the period. Deutsche Bank AG increased its position in shares of Nordson by 73.3% during the fourth quarter. Deutsche Bank AG now owns 47,189 shares of the industrial products company’s stock worth $5,629,000 after buying an additional 19,955 shares during the period. First Manhattan Co. acquired a new stake in shares of Nordson during the first quarter worth $170,000. Sciencast Management LP acquired a new stake in shares of Nordson during the first quarter worth $313,000. Finally, Raymond James Trust N.A. increased its position in shares of Nordson by 7.7% during the first quarter. Raymond James Trust N.A. now owns 1,878 shares of the industrial products company’s stock worth $249,000 after buying an additional 134 shares during the period. 68.46% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $148.00 price objective for the company. in a research report on Monday, July 1st. BidaskClub upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Oppenheimer increased their price objective on shares of Nordson from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Nordson presently has an average rating of “Hold” and an average target price of $139.60.
In related news, Director Mary G. Puma sold 998 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $127.88, for a total transaction of $127,624.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael F. Hilton sold 6,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $128.06, for a total transaction of $768,360.00. Following the transaction, the chief executive officer now directly owns 224,455 shares in the company, valued at $28,743,707.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,106 shares of company stock worth $1,887,961. 1.97% of the stock is owned by insiders.
Shares of NDSN traded up $4.56 during trading hours on Friday, hitting $136.84. 143,600 shares of the stock were exchanged, compared to its average volume of 160,978. Nordson Co. has a fifty-two week low of $110.16 and a fifty-two week high of $149.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.16 and a quick ratio of 1.53. The business has a 50-day moving average of $138.37 and a 200-day moving average of $136.57. The firm has a market capitalization of $7.67 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22.
Nordson (NASDAQ:NDSN) last issued its earnings results on Monday, May 20th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.06). The company had revenue of $551.00 million for the quarter, compared to the consensus estimate of $558.34 million. Nordson had a return on equity of 22.46% and a net margin of 14.64%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, analysts forecast that Nordson Co. will post 6.15 earnings per share for the current fiscal year.
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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