PNC Financial Services Group Inc. Boosts Stake in Nordson Co. (NASDAQ:NDSN)

PNC Financial Services Group Inc. lifted its position in Nordson Co. (NASDAQ:NDSN) by 10.4% in the third quarter, Holdings Channel reports. The firm owned 12,184 shares of the industrial products company’s stock after acquiring an additional 1,146 shares during the period. PNC Financial Services Group Inc.’s holdings in Nordson were worth $3,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NDSN. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Nordson in the 2nd quarter valued at about $27,000. Tortoise Investment Management LLC boosted its position in shares of Nordson by 70.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 58 shares during the period. Blue Trust Inc. boosted its position in shares of Nordson by 130.0% in the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Nordson in the 2nd quarter valued at about $46,000. Finally, UMB Bank n.a. boosted its position in shares of Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the transaction, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Nordson Stock Performance

Shares of NDSN stock opened at $261.27 on Monday. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The stock has a 50 day simple moving average of $255.27 and a 200-day simple moving average of $246.30. Nordson Co. has a 12-month low of $222.18 and a 12-month high of $279.38. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

Wall Street Analysts Forecast Growth

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

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.