Nordson Co. (NASDAQ:NDSN) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in shares of Nordson Co. (NASDAQ:NDSN) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,057 shares of the industrial products company’s stock after selling 1,327 shares during the quarter. Confluence Investment Management LLC owned approximately 0.27% of Nordson worth $32,444,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NDSN. State Street Corp grew its holdings in Nordson by 7.2% in the third quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock valued at $692,916,000 after purchasing an additional 177,282 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Nordson by 2.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after buying an additional 68,810 shares in the last quarter. Geode Capital Management LLC grew its stake in Nordson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock valued at $377,919,000 after acquiring an additional 14,780 shares during the period. American Century Companies Inc. increased its holdings in Nordson by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after acquiring an additional 15,947 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Nordson by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after acquiring an additional 48,720 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Price Performance

NDSN traded down $0.58 during trading on Thursday, reaching $207.88. The company’s stock had a trading volume of 38,226 shares, compared to its average volume of 251,042. The company has a quick ratio of 1.52, a current ratio of 2.41 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $243.18 and a two-hundred day simple moving average of $244.31. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.70 and a beta of 0.90. Nordson Co. has a 1 year low of $206.80 and a 1 year high of $279.38.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The company had revenue of $744.00 million for the quarter, compared to analyst estimates of $736.83 million. During the same quarter in the previous year, the company posted $2.46 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that Nordson Co. will post 10.34 EPS for the current year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, January 2nd. Nordson’s payout ratio is currently 38.47%.

Insiders Place Their Bets

In related news, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the sale, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at approximately $862,081.49. This trade represents a 6.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,629 shares of company stock valued at $914,400 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NDSN. DA Davidson cut their target price on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Baird R W downgraded Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $237.00 price target (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $279.00.

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.