Bank of Montreal Can Reduces Stock Position in Nordson Co. (NASDAQ:NDSN)

Bank of Montreal Can trimmed its stake in shares of Nordson Co. (NASDAQ:NDSN) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,350 shares of the industrial products company’s stock after selling 1,013 shares during the period. Bank of Montreal Can’s holdings in Nordson were worth $14,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Procyon Advisors LLC grew its position in Nordson by 2.9% in the 3rd quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 39 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Nordson by 1.0% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company’s stock worth $1,052,000 after acquiring an additional 39 shares during the period. Everpar Advisors LLC increased its position in Nordson by 2.1% during the second quarter. Everpar Advisors LLC now owns 2,021 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 42 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Nordson by 1.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 42 shares during the period. Finally, Covestor Ltd boosted its position in Nordson by 18.8% in the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

Shares of Nordson stock opened at $260.99 on Friday. The stock has a market cap of $14.92 billion, a P/E ratio of 31.79, a P/E/G ratio of 1.93 and a beta of 0.90. 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 stock’s fifty day moving average is $255.72 and its 200 day moving average is $246.16. Nordson Co. has a one year low of $222.18 and a one year high of $279.38.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were 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 owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the sale, the executive vice president now directly owns 3,287 shares in the company, valued at approximately $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,312 shares of company stock valued at $831,742 over the last quarter. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price objective on shares of Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note 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 data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and an average price target of $299.00.

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.