DNB Asset Management AS Sells 581 Shares of Nordson Corporation $NDSN

DNB Asset Management AS decreased its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,754 shares of the industrial products company’s stock after selling 581 shares during the period. DNB Asset Management AS’s holdings in Nordson were worth $2,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NDSN. Quarry LP bought a new position in Nordson during the 1st quarter valued at $28,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Nordson in the second quarter valued at about $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Nordson by 640.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 128 shares in the last quarter. NewSquare Capital LLC boosted its holdings in Nordson by 212.0% during the second quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 106 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Nordson by 96.3% in the 2nd quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 79 shares in the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on NDSN shares. Wall Street Zen cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group restated a “hold” rating and set a $240.00 price target on shares of Nordson in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Oppenheimer boosted their target price on shares of Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, August 25th. Finally, Robert W. Baird raised their price target on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $255.75.

Nordson Stock Down 0.2%

NDSN stock opened at $233.04 on Tuesday. The stock has a 50-day simple moving average of $230.98 and a two-hundred day simple moving average of $220.74. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86. The firm has a market capitalization of $13.09 billion, a PE ratio of 29.28, a PEG ratio of 1.77 and a beta of 0.98. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. The company had revenue of $646.86 million during the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. On average, equities analysts predict that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.82 per share. This is an increase from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.4%. Nordson’s dividend payout ratio (DPR) is presently 41.21%.

Insider Buying and Selling at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 2,300 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $232.39, for a total value of $534,497.00. Following the transaction, the executive vice president directly owned 8,605 shares in the company, valued at $1,999,715.95. This represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James E. Devries sold 9,100 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $233.60, for a total value of $2,125,760.00. Following the completion of the sale, the executive vice president directly owned 51,223 shares in the company, valued at approximately $11,965,692.80. The trade was a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,600 shares of company stock worth $3,188,257. Insiders own 0.80% of the company’s stock.

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.