Nordson Co. (NASDAQ:NDSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 595,299 shares of the industrial products company’s stock after selling 25,089 shares during the period. Bank of New York Mellon Corp’s holdings in Nordson were worth $126,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management SA boosted its position in shares of Nordson by 3.3% during the third quarter. Pictet Asset Management SA now owns 25,989 shares of the industrial products company’s stock worth $5,517,000 after buying an additional 834 shares during the period. Raymond James & Associates boosted its position in shares of Nordson by 103.7% during the third quarter. Raymond James & Associates now owns 239,421 shares of the industrial products company’s stock worth $50,822,000 after buying an additional 121,864 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Nordson by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,731 shares of the industrial products company’s stock worth $1,429,000 after purchasing an additional 746 shares during the period. Norris Perne & French LLP MI lifted its position in Nordson by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 60,118 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,107 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Nordson by 2.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 8,760 shares of the industrial products company’s stock worth $1,859,000 after purchasing an additional 223 shares during the period. 70.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NDSN shares. StockNews.com started coverage on Nordson in a research report on Thursday. They issued a “hold” rating for the company. Robert W. Baird cut their target price on Nordson from $259.00 to $241.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Nordson has a consensus rating of “Hold” and an average price target of $255.20.

Insider Buying and Selling at Nordson

In other Nordson news, EVP Shelly Peet sold 1,692 shares of the business’s 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 sale, the executive vice president now directly owns 26,487 shares of the company’s stock, valued at approximately $6,224,445. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nordson news, EVP Shelly Peet sold 1,692 shares of the business’s 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 sale, the executive vice president now directly owns 26,487 shares of the company’s stock, valued at approximately $6,224,445. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Joseph P. Kelley sold 2,100 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $246.43, for a total transaction of $517,503.00. Following the completion of the transaction, the chief financial officer now directly owns 9,091 shares in the company, valued at $2,240,295.13. The disclosure for this sale can be found here. Insiders have sold a total of 10,403 shares of company stock valued at $2,515,941 in the last three months. 0.70% of the stock is currently owned by company insiders.

Nordson Price Performance

NASDAQ NDSN opened at $204.02 on Friday. The stock has a market capitalization of $11.68 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.76 and a beta of 0.91. Nordson Co. has a 1 year low of $194.89 and a 1 year high of $251.26. The business’s fifty day moving average is $232.18 and its two-hundred day moving average is $229.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43.

Nordson (NASDAQ:NDSN – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.03). The company had revenue of $610.48 million during the quarter, compared to the consensus estimate of $625.87 million. Nordson had a net margin of 19.18% and a return on equity of 23.67%. During the same period in the prior year, the company posted $2.07 EPS. On average, research analysts forecast that Nordson Co. will post 9.03 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $2.60 annualized dividend and a dividend yield of 1.27%. Nordson’s dividend payout ratio is currently 30.30%.

Nordson Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.