Covestor Ltd Buys 43 Shares of Nordson Co. (NASDAQ:NDSN)

Covestor Ltd lifted its stake in Nordson Co. (NASDAQ:NDSN) by 18.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272 shares of the industrial products company’s stock after buying an additional 43 shares during the period. Covestor Ltd’s holdings in Nordson were worth $72,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NDSN. SG Americas Securities LLC raised its stake in shares of Nordson by 80.8% in the first quarter. SG Americas Securities LLC now owns 5,680 shares of the industrial products company’s stock valued at $1,559,000 after purchasing an additional 2,539 shares in the last quarter. Headlands Technologies LLC acquired a new position in Nordson in the first quarter worth about $55,000. QRG Capital Management Inc. raised its position in Nordson by 8.8% in the first quarter. QRG Capital Management Inc. now owns 1,271 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 103 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Nordson by 4.7% during the first quarter. Russell Investments Group Ltd. now owns 63,427 shares of the industrial products company’s stock worth $17,414,000 after purchasing an additional 2,827 shares during the period. Finally, Bleakley Financial Group LLC bought a new stake in shares of Nordson in the 1st quarter valued at approximately $213,000. 72.11% of the stock is owned by institutional investors and hedge funds.

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 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 currently has an average rating of “Moderate Buy” and a consensus target price of $299.00.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the sale, the executive vice president now owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 3,287 shares of the company’s stock, valued at $862,081.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

Nordson Price Performance

NASDAQ:NDSN opened at $259.04 on Thursday. The firm has a market cap of $14.81 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The company’s 50-day moving average price is $254.26 and its two-hundred day moving average price is $246.94. 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 12 month low of $222.18 and a 12 month high of $279.38.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 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 business had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same period in the prior year, the company earned $2.35 EPS. Nordson’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current fiscal 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.