SRN Advisors LLC Reduces Holdings in Nordson Co. (NASDAQ:NDSN)

SRN Advisors LLC lowered its position in Nordson Co. (NASDAQ:NDSN) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,767 shares of the industrial products company’s stock after selling 178 shares during the period. SRN Advisors LLC’s holdings in Nordson were worth $989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NDSN. Massachusetts Financial Services Co. MA grew its holdings in Nordson by 289.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after purchasing an additional 193,421 shares during the last quarter. Swedbank AB bought a new position in shares of Nordson during the first quarter valued at approximately $48,044,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Nordson by 237.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock worth $68,049,000 after buying an additional 174,330 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Nordson by 26,109.1% during the 3rd quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock worth $27,327,000 after acquiring an additional 103,653 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Nordson by 10.4% during the 1st quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after acquiring an additional 88,966 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

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

Nordson Price Performance

Shares of NDSN stock opened at $248.10 on Friday. The company has a market capitalization of $14.21 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.02 and a beta of 0.90. The company’s 50-day simple moving average is $253.58 and its two-hundred day simple moving average is $247.65. Nordson Co. has a one year low of $208.91 and a one year high of $279.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data 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 company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. Nordson’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. As a group, equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This is an increase from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.26%. Nordson’s dividend payout ratio (DPR) is 37.19%.

Nordson Profile

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.