Exchange Traded Concepts LLC Sells 15,252 Shares of Nordson Co. (NASDAQ:NDSN)

Exchange Traded Concepts LLC lowered its stake in Nordson Co. (NASDAQ:NDSN) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,723 shares of the industrial products company’s stock after selling 15,252 shares during the quarter. Exchange Traded Concepts LLC owned about 0.11% of Nordson worth $16,736,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in Nordson by 5,590.7% in the first quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock valued at $1,343,000 after acquiring an additional 4,808 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Nordson by 61.6% in the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock valued at $7,224,000 after acquiring an additional 11,875 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Nordson during the 1st quarter valued at approximately $1,562,000. Cetera Investment Advisers grew its stake in shares of Nordson by 422.3% during the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after buying an additional 11,625 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Nordson by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 123,965 shares of the industrial products company’s stock worth $34,033,000 after purchasing an additional 3,969 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

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

Nordson Stock Up 1.2 %

NDSN opened at $256.62 on Friday. The company’s 50-day moving average price is $250.05 and its two-hundred day moving average price is $248.97. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 2.04 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 (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 EPS. As a group, equities analysts expect that Nordson Co. will post 9.55 earnings per share for the current year.

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.78 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio is currently 38.00%.

About Nordson

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.