Studio Investment Management LLC Acquires 66 Shares of Nordson Co. (NASDAQ:NDSN)

Studio Investment Management LLC lifted its holdings in Nordson Co. (NASDAQ:NDSN) by 4.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,427 shares of the industrial products company’s stock after buying an additional 66 shares during the quarter. Studio Investment Management LLC’s holdings in Nordson were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NDSN. Ashton Thomas Private Wealth LLC purchased a new position in shares of Nordson during the second quarter valued at about $27,000. Tortoise Investment Management LLC raised its stake in Nordson by 70.7% during the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. lifted its position in Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nordson in the 2nd quarter worth $46,000. Finally, UMB Bank n.a. increased its holdings in shares of Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jennifer L. Mcdonough sold 225 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the sale, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at approximately $862,081.49. The trade was a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph P. Kelley sold 3,000 shares of the firm’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 transaction, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Nordson Stock Up 1.8 %

Shares of NDSN opened at $261.27 on Friday. 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 Co. has a 52-week low of $222.18 and a 52-week high of $279.38. The company has a market cap of $14.94 billion, a PE ratio of 31.82, a P/E/G ratio of 1.91 and a beta of 0.90. The business has a fifty day moving average of $255.27 and a 200 day moving average of $246.65.

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

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.