Nissay Asset Management Corp Japan ADV purchased a new stake in Nordson Co. (NASDAQ:NDSN) in the 2nd quarter, HoldingsChannel reports. The firm purchased 5,479 shares of the industrial products company’s stock, valued at approximately $1,039,000.
Other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its stake in shares of Nordson by 110.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 198 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Trust Co. of Vermont purchased a new stake in Nordson during the 1st quarter worth approximately $27,000. Group One Trading L.P. increased its stake in Nordson by 2,000.0% during the 1st quarter. Group One Trading L.P. now owns 210 shares of the industrial products company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Signaturefd LLC grew its position in shares of Nordson by 57.0% in the first quarter. Signaturefd LLC now owns 394 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 143 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in Nordson by 343.6% in the first quarter. Fred Alger Management LLC now owns 417 shares of the industrial products company’s stock valued at $56,000 after buying an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Shares of NDSN stock opened at $193.63 on Friday. The stock’s 50-day moving average is $189.33 and its two-hundred day moving average is $166.33. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.77 and a beta of 1.22. Nordson Co. has a 1 year low of $96.46 and a 1 year high of $203.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.31 and a current ratio of 3.17.
Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, May 20th. The industrial products company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.32. Nordson had a net margin of 15.70% and a return on equity of 21.32%. The business had revenue of $529.00 million during the quarter, compared to the consensus estimate of $496.38 million. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, research analysts predict that Nordson Co. will post 5.38 EPS for the current year.
NDSN has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Nordson in a report on Friday, April 17th. They issued a “buy” rating and a $170.00 target price on the stock. Wells Fargo & Co increased their target price on Nordson from $160.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. DA Davidson increased their target price on Nordson from $200.00 to $231.00 and gave the company a “buy” rating in a report on Monday, June 8th. Robert W. Baird raised their price objective on Nordson from $171.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Finally, Berenberg Bank began coverage on Nordson in a report on Friday, June 5th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $185.57.
In other news, CFO Gregory A. Thaxton sold 11,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $178.91, for a total transaction of $1,968,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary G. Puma sold 1,036 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $179.09, for a total transaction of $185,537.24. The disclosure for this sale can be found here. Insiders have sold 42,846 shares of company stock valued at $8,100,357 in the last quarter. Insiders own 2.01% of the company’s stock.
Nordson Company Profile
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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