King Luther Capital Management Corp Sells 90 Shares of Nordson Co. (NASDAQ:NDSN)

King Luther Capital Management Corp cut its stake in shares of Nordson Co. (NASDAQ:NDSN) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,185 shares of the industrial products company’s stock after selling 90 shares during the quarter. King Luther Capital Management Corp’s holdings in Nordson were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Nordson during the second quarter worth $27,000. Tortoise Investment Management LLC boosted its holdings in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 58 shares in the last quarter. Blue Trust Inc. grew its position in Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Nordson in the 2nd quarter worth about $46,000. Finally, UMB Bank n.a. raised its position in Nordson by 2,387.5% in the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $299.00.

Nordson Stock Performance

NASDAQ NDSN opened at $261.27 on Friday. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.91 and a beta of 0.90. Nordson Co. has a twelve month low of $222.18 and a twelve month high of $279.38. The stock has a fifty day simple moving average of $255.27 and a 200 day simple moving average of $246.47. 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 issued its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. During the same period last year, the company earned $2.35 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that Nordson Co. will post 9.55 EPS for the current year.

Insiders Place Their Bets

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

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.