Winslow Asset Management Inc. lessened its holdings in Nordson Co. (NASDAQ:NDSN) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,523 shares of the industrial products company’s stock after selling 2,368 shares during the period. Nordson makes up 2.6% of Winslow Asset Management Inc.’s portfolio, making the stock its 7th biggest position. Winslow Asset Management Inc. owned about 0.18% of Nordson worth $14,241,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Nordson in the second quarter worth about $132,000. Sawtooth Solutions LLC bought a new stake in Nordson during the second quarter worth about $205,000. Hartford Investment Management Co. bought a new stake in Nordson during the second quarter worth about $206,000. Gideon Capital Advisors Inc. bought a new stake in Nordson during the second quarter worth about $211,000. Finally, Natixis bought a new stake in Nordson during the second quarter worth about $214,000. 68.81% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Mary G. Puma sold 2,983 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total transaction of $433,847.52. Following the sale, the director now directly owns 18,799 shares of the company’s stock, valued at $2,734,126.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.01% of the stock is owned by corporate insiders.
Nordson stock traded down $2.90 during trading hours on Thursday, hitting $125.54. 6,464 shares of the stock were exchanged, compared to its average volume of 226,026. Nordson Co. has a 12 month low of $122.21 and a 12 month high of $151.84. The company has a current ratio of 3.16, a quick ratio of 2.36 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 1.22.
Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Monday, August 20th. The industrial products company reported $1.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60. Nordson had a net margin of 16.40% and a return on equity of 26.37%. The business had revenue of $581.20 million for the quarter, compared to analysts’ expectations of $590.75 million. During the same period in the prior year, the firm earned $1.74 earnings per share. Nordson’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Nordson Co. will post 5.98 EPS for the current year.
Nordson announced that its board has approved a stock buyback plan on Tuesday, September 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have weighed in on NDSN. ValuEngine cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. BidaskClub raised shares of Nordson from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, DA Davidson set a $160.00 price objective on shares of Nordson and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $156.57.
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.
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