Nordson Co. (NASDAQ:NDSN) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lessened its stake in Nordson Co. (NASDAQ:NDSN) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,096 shares of the industrial products company’s stock after selling 530 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Nordson were worth $1,601,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in Nordson in the second quarter valued at about $27,000. Tortoise Investment Management LLC increased its holdings in shares of Nordson by 70.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 58 shares during the last quarter. Blue Trust Inc. raised its position in shares of Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Nordson during the 2nd quarter valued at approximately $46,000. Finally, Headlands Technologies LLC bought a new position in Nordson during the first quarter worth $55,000. Institutional investors own 72.11% of the company’s stock.

Nordson Trading Down 0.6 %

NASDAQ:NDSN opened at $247.56 on Tuesday. Nordson Co. has a 12-month low of $219.46 and a 12-month high of $279.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The business has a 50 day simple moving average of $253.72 and a 200 day simple moving average of $246.97. The firm has a market capitalization of $14.16 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.85 and a beta of 0.90.

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

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.26%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. Nordson’s dividend payout ratio is 38.00%.

Analyst Upgrades and Downgrades

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

Insider Activity at Nordson

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 stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by insiders.

About Nordson

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.