Kentucky Retirement Systems Sells 304 Shares of Nordson Co. (NASDAQ:NDSN)

Kentucky Retirement Systems reduced its stake in Nordson Co. (NASDAQ:NDSN) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,790 shares of the industrial products company’s stock after selling 304 shares during the quarter. Kentucky Retirement Systems’ holdings in Nordson were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NDSN. Kayne Anderson Rudnick Investment Management LLC lifted its position in Nordson by 2.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after acquiring an additional 68,810 shares in the last quarter. Lazard Asset Management LLC lifted its position in Nordson by 10.4% in 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 in the last quarter. American Century Companies Inc. lifted its position in Nordson by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock valued at $139,624,000 after acquiring an additional 15,947 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Nordson by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after acquiring an additional 11,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Nordson by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 338,990 shares of the industrial products company’s stock valued at $78,623,000 after acquiring an additional 47,865 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Nordson Price Performance

Shares of NDSN opened at $249.86 on Wednesday. The firm has a market cap of $14.29 billion, a PE ratio of 30.43, a P/E/G ratio of 1.89 and a beta of 0.90. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $254.81 and a two-hundred day simple moving average of $246.60. Nordson Co. has a 1-year low of $222.18 and a 1-year high of $279.38.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 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 return on equity of 19.80% and a net margin of 17.75%. Nordson’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 EPS. On average, equities analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Insider Transactions at Nordson

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction on 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 sale, the executive vice president now owns 3,287 shares in the company, valued at approximately $862,081.49. This represents a 6.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph P. Kelley sold 3,000 shares of the 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 completion of the sale, the executive vice president now owns 8,659 shares of the company’s stock, valued at $2,164,576.82. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

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.