Nordson Co. (NDSN) Shares Bought by US Bancorp DE
US Bancorp DE lifted its position in Nordson Co. (NASDAQ:NDSN) by 18.7% during the fourth quarter, Holdings Channel reports. The fund owned 10,131 shares of the industrial products company’s stock after acquiring an additional 1,596 shares during the period. US Bancorp DE’s holdings in Nordson were worth $1,483,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Quantbot Technologies LP boosted its stake in shares of Nordson by 1,168.2% in the third quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 1,507 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Nordson in the fourth quarter worth approximately $234,000. Oakbrook Investments LLC acquired a new stake in shares of Nordson in the third quarter worth approximately $240,000. Fisher Asset Management LLC acquired a new stake in shares of Nordson in the third quarter worth approximately $245,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Nordson by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,177 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 146 shares during the last quarter. 66.96% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP John J. Keane sold 20,000 shares of Nordson stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $150.35, for a total value of $3,007,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph P. Keithley sold 1,518 shares of Nordson stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $149.89, for a total value of $227,533.02. The disclosure for this sale can be found here. Insiders sold 84,597 shares of company stock valued at $12,623,580 over the last ninety days. Insiders own 2.01% of the company’s stock.
Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, December 13th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Nordson had a return on equity of 30.54% and a net margin of 14.31%. The company had revenue of $574.00 million for the quarter, compared to the consensus estimate of $546.76 million. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. equities research analysts expect that Nordson Co. will post 6.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.86%. Nordson’s payout ratio is presently 23.62%.
NDSN has been the topic of a number of research analyst reports. Zacks Investment Research raised Nordson from a “sell” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, October 24th. SunTrust Banks reiterated a “buy” rating and set a $135.00 price objective on shares of Nordson in a research report on Friday, October 27th. KeyCorp reiterated a “buy” rating and set a $145.00 price objective on shares of Nordson in a research report on Sunday, November 19th. Barrington Research reiterated a “market perform” rating on shares of Nordson in a research report on Tuesday, January 9th. Finally, Oppenheimer reiterated a “hold” rating on shares of Nordson in a research report on Thursday, December 14th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $147.40.
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Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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