Investment Management Corp of Ontario Acquires 500 Shares of Nordson Co. (NASDAQ:NDSN)

Investment Management Corp of Ontario boosted its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 40.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,729 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Investment Management Corp of Ontario’s holdings in Nordson were worth $454,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Nordson during the second quarter worth approximately $27,000. Tortoise Investment Management LLC grew its stake in Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Nordson during the 2nd quarter valued at $46,000. Finally, UMB Bank n.a. lifted 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 period. Institutional investors own 72.11% of the company’s stock.

Insiders Place Their Bets

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were 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 in the company, 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 SEC, which can be accessed through the SEC website. Also, EVP Stephen Lovass sold 317 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $260.75, for a total transaction of $82,657.75. Following the sale, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at approximately $1,738,159.50. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,629 shares of company stock worth $914,400 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Nordson Price Performance

NASDAQ NDSN opened at $254.40 on Friday. The company has a market cap of $14.55 billion, a PE ratio of 30.99, a P/E/G ratio of 1.91 and a beta of 0.90. The firm’s 50 day moving average price is $255.55 and its 200-day moving average price is $245.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. Nordson Co. has a 52-week low of $222.18 and a 52-week high of $279.38.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $299.00.

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.