Pictet Asset Management SA Sells 1,101 Shares of Nordson Co. (NASDAQ:NDSN)

Pictet Asset Management SA reduced its stake in shares of Nordson Co. (NASDAQ:NDSNGet Rating) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,155 shares of the industrial products company’s stock after selling 1,101 shares during the quarter. Pictet Asset Management SA’s holdings in Nordson were worth $5,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Nordson by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,997,575 shares of the industrial products company’s stock worth $1,361,928,000 after purchasing an additional 850,479 shares during the last quarter. State Street Corp grew its stake in shares of Nordson by 19.1% in the first quarter. State Street Corp now owns 2,467,509 shares of the industrial products company’s stock worth $560,322,000 after purchasing an additional 395,419 shares during the last quarter. Invesco Ltd. grew its stake in shares of Nordson by 70.8% in the first quarter. Invesco Ltd. now owns 738,911 shares of the industrial products company’s stock worth $167,792,000 after purchasing an additional 306,300 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Nordson by 2,651.9% in the first quarter. Johnson Investment Counsel Inc. now owns 242,935 shares of the industrial products company’s stock worth $55,166,000 after purchasing an additional 234,107 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nordson by 35.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 414,101 shares of the industrial products company’s stock worth $94,034,000 after purchasing an additional 107,863 shares during the last quarter. 72.03% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP James E. Devries sold 4,500 shares of Nordson stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $218.42, for a total transaction of $982,890.00. Following the completion of the transaction, the executive vice president now directly owns 46,605 shares in the company, valued at $10,179,464.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Srinivas Subramanian sold 1,480 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $217.48, for a total value of $321,870.40. Following the completion of the transaction, the executive vice president now directly owns 1,118 shares in the company, valued at approximately $243,142.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James E. Devries sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $218.42, for a total transaction of $982,890.00. Following the completion of the transaction, the executive vice president now owns 46,605 shares of the company’s stock, valued at $10,179,464.10. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on NDSN shares. Robert W. Baird raised their price objective on shares of Nordson from $232.00 to $271.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. DA Davidson lowered their price objective on shares of Nordson to $265.00 in a report on Thursday, October 27th. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Monday, November 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Nordson from $310.00 to $270.00 and set an “overweight” rating for the company in a report on Monday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson presently has a consensus rating of “Hold” and an average price target of $261.20.

Nordson Price Performance

NDSN stock opened at $231.01 on Friday. The firm has a 50 day moving average price of $221.31 and a 200-day moving average price of $219.08. Nordson Co. has a 52-week low of $194.89 and a 52-week high of $271.90. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.35.

Nordson (NASDAQ:NDSNGet Rating) last released its earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.04. Nordson had a net margin of 19.25% and a return on equity of 23.66%. The firm had revenue of $662.13 million during the quarter, compared to analyst estimates of $650.90 million. During the same period last year, the business earned $2.42 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that Nordson Co. will post 9.32 EPS for the current fiscal year.

Nordson Profile

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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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).

See Also

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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