Comerica Bank Purchases 205 Shares of Nordson Co. (NASDAQ:NDSN)

Comerica Bank raised its holdings in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,059 shares of the industrial products company’s stock after acquiring an additional 205 shares during the quarter. Comerica Bank’s holdings in Nordson were worth $1,764,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NDSN. D.A. Davidson & CO. grew its position in Nordson by 18.4% in the first quarter. D.A. Davidson & CO. now owns 947 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 147 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Nordson by 461.0% in the 1st quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock valued at $1,203,000 after acquiring an additional 4,352 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Nordson by 7.5% in the 1st quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 150 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Nordson in the 1st quarter valued at about $219,000. Finally, Sei Investments Co. grew its holdings in shares of Nordson by 2.1% in the 1st quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock valued at $10,615,000 after acquiring an additional 970 shares in the last quarter. 70.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NDSN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Nordson from $310.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, October 24th. DA Davidson decreased their target price on shares of Nordson to $265.00 in a research note on Thursday, October 27th. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Finally, Robert W. Baird decreased their price objective on shares of Nordson from $264.00 to $259.00 and set an “outperform” rating for the company in a research report on Friday, December 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $258.80.

Insiders Place Their Bets

In other Nordson news, EVP Shelly Peet sold 1,692 shares of Nordson stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $235.00, for a total transaction of $397,620.00. Following the completion of the transaction, the executive vice president now directly owns 26,487 shares of the company’s stock, valued at $6,224,445. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Shelly Peet sold 1,692 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $235.00, for a total transaction of $397,620.00. Following the completion of the sale, the executive vice president now owns 26,487 shares in the company, valued at $6,224,445. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Srinivas Subramanian sold 1,480 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $217.48, for a total value of $321,870.40. Following the sale, the executive vice president now owns 1,118 shares of the company’s stock, valued at approximately $243,142.64. The disclosure for this sale can be found here. Insiders sold a total of 4,783 shares of company stock valued at $1,102,908 over the last ninety days. 0.75% of the stock is currently owned by company insiders.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $233.82 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.16. Nordson Co. has a 12 month low of $194.89 and a 12 month high of $247.08. The stock has a 50 day moving average of $236.42 and a 200-day moving average of $227.74. The company has a market capitalization of $13.36 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.98 and a beta of 0.90.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 20th were given a dividend of $0.65 per share. The ex-dividend date was Monday, December 19th. This represents a $2.60 dividend on an annualized basis and a yield of 1.11%. Nordson’s dividend payout ratio (DPR) is 29.48%.

About Nordson

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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 three segments: Industrial Precision Solutions (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS).