Peninsula Asset Management Inc. Sells 1,180 Shares of Nordson Co. (NASDAQ:NDSN)

Peninsula Asset Management Inc. lowered its stake in shares of Nordson Co. (NASDAQ:NDSN) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,695 shares of the industrial products company’s stock after selling 1,180 shares during the quarter. Nordson accounts for 1.5% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 24th biggest position. Peninsula Asset Management Inc.’s holdings in Nordson were worth $2,866,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nomura Asset Management Co. Ltd. grew its holdings in shares of Nordson by 13.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock worth $45,533,000 after acquiring an additional 20,217 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Nordson by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after acquiring an additional 48,720 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Nordson by 23.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after purchasing an additional 61,430 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Nordson by 113.8% during the 3rd quarter. Holocene Advisors LP now owns 29,170 shares of the industrial products company’s stock worth $7,661,000 after purchasing an additional 15,524 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in Nordson by 47.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock worth $4,117,000 after acquiring an additional 5,046 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Up 2.7 %

NASDAQ:NDSN opened at $207.40 on Friday. The company has a market capitalization of $11.80 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The stock has a fifty day simple moving average of $213.13 and a 200-day simple moving average of $235.50. Nordson Co. has a 52-week low of $196.83 and a 52-week high of $279.38. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The firm had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. On average, equities research analysts expect that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 20th. Nordson’s dividend payout ratio (DPR) is 39.69%.

Insider Transactions at Nordson

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the completion of the transaction, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

NDSN has been the subject of several analyst reports. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective for the company. in a report on Monday, February 24th. Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and increased their price target for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. KeyCorp raised shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a report on Tuesday, March 4th. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $237.00 price target (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $256.20.

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.