Nordson Co. (NASDAQ:NDSN) is XXEC Inc.’s 7th Largest Position

XXEC Inc. lessened its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,327 shares of the industrial products company’s stock after selling 41 shares during the quarter. Nordson makes up about 5.6% of XXEC Inc.’s investment portfolio, making the stock its 7th biggest position. XXEC Inc.’s holdings in Nordson were worth $7,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NDSN. Envestnet Portfolio Solutions Inc. boosted its position in shares of Nordson by 6.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,332 shares of the industrial products company’s stock worth $1,738,000 after acquiring an additional 405 shares during the last quarter. SG Americas Securities LLC raised its stake in Nordson by 80.8% during the first quarter. SG Americas Securities LLC now owns 5,680 shares of the industrial products company’s stock worth $1,559,000 after purchasing an additional 2,539 shares during the period. Swiss National Bank boosted its holdings in shares of Nordson by 1.1% in the 1st quarter. Swiss National Bank now owns 162,200 shares of the industrial products company’s stock valued at $44,530,000 after purchasing an additional 1,800 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nordson during the 1st quarter valued at $55,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Nordson by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 1,271 shares of the industrial products company’s stock worth $349,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their target price on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $299.00.

Nordson Price Performance

NDSN opened at $261.21 on Tuesday. The company has a 50 day moving average of $253.94 and a two-hundred day moving average of $246.88. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. Nordson Co. has a 52-week low of $222.18 and a 52-week high of $279.38. The company has a market cap of $14.94 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.94 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.08. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 earnings per share. On average, analysts expect that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This is a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, August 27th. Nordson’s payout ratio is presently 38.00%.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.