Procyon Advisors LLC Cuts Stake in Nordson Co. (NASDAQ:NDSN)

Procyon Advisors LLC reduced its stake in Nordson Co. (NASDAQ:NDSNFree Report) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,356 shares of the industrial products company’s stock after selling 67 shares during the quarter. Procyon Advisors LLC’s holdings in Nordson were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schechter Investment Advisors LLC purchased a new position in shares of Nordson in the 4th quarter worth about $211,000. Assenagon Asset Management S.A. boosted its holdings in shares of Nordson by 918.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 12,063 shares of the industrial products company’s stock worth $3,187,000 after buying an additional 10,878 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Nordson by 31.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,242 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 1,985 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Nordson by 7.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,055 shares of the industrial products company’s stock valued at $2,656,000 after purchasing an additional 718 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Nordson by 0.5% during the fourth quarter. Raymond James & Associates now owns 271,438 shares of the industrial products company’s stock valued at $71,703,000 after purchasing an additional 1,318 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Stephen Lovass sold 1,213 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $250.13, for a total value of $303,407.69. Following the transaction, the executive vice president now directly owns 7,379 shares in the company, valued at $1,845,709.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Nordson news, EVP Srinivas Subramanian sold 2,100 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $250.79, for a total transaction of $526,659.00. Following the transaction, the executive vice president now directly owns 4,565 shares in the company, valued at $1,144,856.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Lovass sold 1,213 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $250.13, for a total transaction of $303,407.69. Following the transaction, the executive vice president now owns 7,379 shares in the company, valued at $1,845,709.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,313 shares of company stock worth $1,347,427. Insiders own 0.86% of the company’s stock.

Nordson Trading Up 0.3 %

Shares of Nordson stock opened at $274.54 on Friday. Nordson Co. has a 12-month low of $208.77 and a 12-month high of $276.09. The company has a market cap of $15.70 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.06 and a beta of 1.00. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $263.13 and its 200-day moving average price is $244.57.

Nordson (NASDAQ:NDSNGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $630.77 million. During the same period in the prior year, the firm posted $1.95 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts expect that Nordson Co. will post 10.22 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio (DPR) is 31.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. StockNews.com raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.00.

View Our Latest Report on NDSN

Nordson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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