Allworth Financial LP Sells 274 Shares of Nordson Co. (NASDAQ:NDSN)

Allworth Financial LP lessened its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,141 shares of the industrial products company’s stock after selling 274 shares during the period. Allworth Financial LP’s holdings in Nordson were worth $2,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Nordson by 289.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after buying an additional 193,421 shares during the last quarter. Swedbank AB purchased a new position in shares of Nordson in the 1st quarter worth about $48,044,000. Price T Rowe Associates Inc. MD boosted its stake in Nordson by 237.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock worth $68,049,000 after purchasing an additional 174,330 shares in the last quarter. International Assets Investment Management LLC grew its position in Nordson by 26,109.1% during the 3rd quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock valued at $27,327,000 after purchasing an additional 103,653 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Nordson by 10.4% during the 1st quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after purchasing an additional 88,966 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was 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 directly owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Nordson Price Performance

NASDAQ NDSN opened at $248.10 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.02 and a beta of 0.90. The stock has a 50-day moving average of $253.58 and a 200 day moving average of $247.48. Nordson Co. has a one year low of $208.91 and a one year high of $279.38.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. During the same period in the previous year, the company earned $2.35 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $0.78 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 annualized dividend and a dividend yield of 1.26%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s payout ratio is presently 37.19%.

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.