Prudential Financial Inc. Has $4.90 Million Stock Holdings in Nordson Co. (NASDAQ:NDSN)
Prudential Financial Inc. boosted its position in shares of Nordson Co. (NASDAQ:NDSN) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,683 shares of the industrial products company’s stock after buying an additional 2,270 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Nordson worth $4,901,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of NDSN. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Nordson during the 1st quarter valued at $459,000. California State Teachers Retirement System raised its position in shares of Nordson by 1.3% during the 1st quarter. California State Teachers Retirement System now owns 92,587 shares of the industrial products company’s stock valued at $12,270,000 after acquiring an additional 1,205 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Nordson by 5.5% during the 1st quarter. Wells Fargo & Company MN now owns 383,468 shares of the industrial products company’s stock valued at $50,817,000 after acquiring an additional 19,971 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Nordson by 1.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 17,296 shares of the industrial products company’s stock valued at $2,444,000 after acquiring an additional 184 shares during the last quarter. Finally, Navellier & Associates Inc bought a new stake in shares of Nordson during the 2nd quarter valued at $203,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on NDSN shares. DA Davidson dropped their target price on shares of Nordson from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. BidaskClub upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $148.00 target price for the company. in a research report on Monday, July 1st. ValuEngine upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Longbow Research set a $160.00 target price on shares of Nordson and gave the company a “buy” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $143.00.
Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Tuesday, August 20th. The industrial products company reported $1.62 EPS for the quarter, missing the Zacks’ consensus estimate of $1.80 by ($0.18). Nordson had a net margin of 14.74% and a return on equity of 21.96%. The firm had revenue of $559.75 million during the quarter, compared to the consensus estimate of $587.74 million. During the same quarter in the prior year, the company earned $1.60 EPS. Nordson’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Nordson Co. will post 5.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from Nordson’s previous quarterly dividend of $0.35. Nordson’s dividend payout ratio is currently 25.59%.
In other Nordson news, CEO Michael F. Hilton sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $138.85, for a total transaction of $694,250.00. Following the completion of the transaction, the chief executive officer now owns 219,455 shares in the company, valued at approximately $30,471,326.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph Stockunas sold 1,497 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $140.49, for a total value of $210,313.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,108 shares of company stock valued at $1,686,227. 1.97% of the stock is owned by corporate insiders.
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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