TD Asset Management Inc Sells 4,618 Shares of Nordson Corporation $NDSN

TD Asset Management Inc trimmed its position in Nordson Corporation (NASDAQ:NDSN) by 23.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,769 shares of the industrial products company’s stock after selling 4,618 shares during the quarter. TD Asset Management Inc’s holdings in Nordson were worth $3,166,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in Nordson in the first quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new position in Nordson in the second quarter valued at approximately $31,000. UMB Bank n.a. increased its stake in Nordson by 96.3% in the second quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. Harbour Investments Inc. increased its stake in Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 54 shares during the last quarter. Finally, National Pension Service increased its stake in Nordson by 74.8% in the first quarter. National Pension Service now owns 201 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 86 shares during the last quarter. 72.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. Robert W. Baird boosted their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. Finally, KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.75.

Nordson Price Performance

Shares of NASDAQ:NDSN opened at $235.66 on Tuesday. The firm has a market cap of $13.24 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The firm’s fifty day moving average is $225.77 and its 200-day moving average is $212.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. The company had revenue of $646.86 million for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. Sell-side analysts predict that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

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

Insider Activity at Nordson

In other news, EVP Joseph P. Kelley sold 2,300 shares of Nordson stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $232.39, for a total transaction of $534,497.00. Following the transaction, the executive vice president owned 8,605 shares in the company, valued at approximately $1,999,715.95. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

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.