Nordson Co. (NASDAQ:NDSN) Shares Sold by DnB Asset Management AS

DnB Asset Management AS trimmed its stake in shares of Nordson Co. (NASDAQ:NDSN) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,083 shares of the industrial products company’s stock after selling 287 shares during the period. DnB Asset Management AS’s holdings in Nordson were worth $2,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. grew its position in Nordson by 26.1% during the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 52 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of Nordson by 73.7% in the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after buying an additional 115 shares during the period. Brooklyn Investment Group grew its holdings in shares of Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after buying an additional 278 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Nordson during the fourth quarter valued at $98,000. Finally, Quarry LP purchased a new stake in Nordson in the 3rd quarter worth about $109,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NDSN. 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 research report on Tuesday, March 4th. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and boosted their price target for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research note on Monday, February 24th. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Seaport Res Ptn raised shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and an average target price of $256.20.

Insider Buying and Selling 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 sale, the executive vice president now owns 7,347 shares in the company, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.

Nordson Price Performance

Shares of NASDAQ:NDSN opened at $201.72 on Tuesday. The business’s 50 day moving average is $212.73 and its 200-day moving average is $231.79. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $11.48 billion, a PE ratio of 25.66, a PEG ratio of 1.65 and a beta of 0.92. Nordson Co. has a 1-year low of $196.83 and a 1-year high of $279.38.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). The business had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a net margin of 16.93% and a return on equity of 19.28%. Sell-side analysts predict that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, March 20th. Nordson’s payout ratio is 39.69%.

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.