Citigroup Inc. Grows Position in Nordson Co. (NASDAQ:NDSN)

Citigroup Inc. boosted its stake in Nordson Co. (NASDAQ:NDSN) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 63,254 shares of the industrial products company’s stock after acquiring an additional 1,264 shares during the period. Citigroup Inc.’s holdings in Nordson were worth $16,612,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Nordson during the second quarter valued at about $27,000. Tortoise Investment Management LLC increased its holdings in 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 last quarter. Blue Trust Inc. raised its position in Nordson by 130.0% in the third 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 position in Nordson during the second quarter worth $46,000. Finally, UMB Bank n.a. boosted its position in shares of Nordson by 2,387.5% during the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Insider Buying and Selling

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the business’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 transaction of $59,010.75. Following the completion of the transaction, the executive vice president now owns 3,287 shares in the company, valued at $862,081.49. The trade was a 6.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,312 shares of company stock valued at $831,742 in the last three months. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Nordson Stock Performance

NASDAQ:NDSN opened at $259.36 on Thursday. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. Nordson Co. has a 52 week low of $222.18 and a 52 week high of $279.38. The company has a fifty day simple moving average of $255.55 and a two-hundred day simple moving average of $246.06.

Nordson 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.