Nordson Corporation $NDSN Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Nordson Corporation (NASDAQ:NDSN) by 65.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,975 shares of the industrial products company’s stock after selling 36,331 shares during the quarter. Edgestream Partners L.P.’s holdings in Nordson were worth $4,068,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NDSN. Quarry LP acquired a new stake in shares of Nordson in the first quarter valued at $28,000. Trust Co. of Toledo NA OH acquired a new stake in Nordson in the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nordson by 640.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock valued at $32,000 after buying an additional 128 shares during the period. NewSquare Capital LLC grew its position in shares of 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 buying an additional 106 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Nordson by 96.3% during the second quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock worth $35,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Insider Activity at Nordson

In other news, EVP James E. Devries sold 9,100 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $233.60, for a total transaction of $2,125,760.00. Following the transaction, the executive vice president directly owned 51,223 shares in the company, valued at approximately $11,965,692.80. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph P. Kelley sold 2,200 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $240.00, for a total transaction of $528,000.00. Following the completion of the sale, the executive vice president owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. This trade represents a 25.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,600 shares of company stock valued at $3,188,257 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $240.00 price target on shares of Nordson in a report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. Oppenheimer increased their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Wall Street Zen raised Nordson from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Robert W. Baird increased their price objective on Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $255.75.

Nordson Stock Performance

NASDAQ NDSN opened at $238.59 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $259.13. The company has a market capitalization of $13.41 billion, a PE ratio of 29.97, a P/E/G ratio of 1.64 and a beta of 1.01. The company has a fifty day moving average of $232.71 and a two-hundred day moving average of $222.39.

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

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 17th will be paid a $0.82 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson’s payout ratio is currently 41.21%.

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.