M&T Bank Corp Reduces Position in Nordson Co. (NASDAQ:NDSN)

M&T Bank Corp decreased its position in shares of Nordson Co. (NASDAQ:NDSN) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 9,196 shares of the industrial products company’s stock after selling 466 shares during the quarter. M&T Bank Corp’s holdings in Nordson were worth $2,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NDSN. Robeco Institutional Asset Management B.V. boosted its position in shares of Nordson by 78.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 5,821 shares of the industrial products company’s stock valued at $1,299,000 after acquiring an additional 2,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Nordson by 5.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,337 shares of the industrial products company’s stock valued at $2,084,000 after buying an additional 504 shares during the last quarter. Forsta AP Fonden acquired a new position in Nordson in the third quarter valued at about $2,589,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Nordson by 1.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,715 shares of the industrial products company’s stock valued at $5,516,000 after buying an additional 307 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Nordson by 7.4% in the third quarter. Mackenzie Financial Corp now owns 2,332 shares of the industrial products company’s stock valued at $514,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. DA Davidson upped their target price on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Nordson in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

Nordson Stock Down 0.4 %

Shares of NASDAQ:NDSN opened at $271.00 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. The firm has a market capitalization of $15.50 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. The firm’s 50-day moving average is $266.06 and its two-hundred day moving average is $252.78. Nordson Co. has a 1 year low of $208.90 and a 1 year high of $278.00.

Nordson (NASDAQ:NDSN) last issued 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. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $630.77 million. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. Analysts predict that Nordson Co. will post 10.2 EPS for the current year.

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.