Nordson Co. (NASDAQ:NDSN) Stock Holdings Cut by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lessened its position in Nordson Co. (NASDAQ:NDSN) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,096 shares of the industrial products company’s stock after selling 530 shares during the period. Stoneridge Investment Partners LLC’s holdings in Nordson were worth $1,601,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NDSN. Bessemer Group Inc. raised its position in Nordson by 5,590.7% in the first quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock worth $1,343,000 after acquiring an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Nordson by 61.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 11,875 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in Nordson during the first quarter valued at approximately $1,562,000. Cetera Investment Advisers boosted its holdings in Nordson by 422.3% during the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after buying an additional 11,625 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in Nordson by 85.3% during the first quarter. Mizuho Markets Americas LLC now owns 39,698 shares of the industrial products company’s stock worth $10,899,000 after buying an additional 18,277 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Insider Activity

In related news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the sale, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Nordson currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

Nordson Price Performance

NASDAQ NDSN opened at $247.56 on Tuesday. Nordson Co. has a 1 year low of $219.46 and a 1 year high of $279.38. The stock’s 50-day moving average price is $253.72 and its two-hundred day moving average price is $246.97. The company has a market cap of $14.16 billion, a PE ratio of 30.15, a PEG ratio of 1.85 and a beta of 0.90. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same quarter in the previous year, the business earned $2.35 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $0.78 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is presently 38.00%.

Nordson Company 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.