The Manufacturers Life Insurance Company Increases Holdings in Nordson Co. (NASDAQ:NDSN)

The Manufacturers Life Insurance Company raised its stake in Nordson Co. (NASDAQ:NDSN) by 2.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,876 shares of the industrial products company’s stock after buying an additional 777 shares during the period. The Manufacturers Life Insurance Company’s holdings in Nordson were worth $9,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Nordson by 2.7% during 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 during the last quarter. American Century Companies Inc. grew its stake in shares of 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 buying an additional 15,947 shares during the period. Bank of New York Mellon Corp raised its position in shares of Nordson by 2.5% during 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 buying an additional 11,809 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Nordson by 16.4% in the second 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 during the last quarter. Finally, Raymond James & Associates grew its position in Nordson by 5.7% in the third quarter. Raymond James & Associates now owns 330,225 shares of the industrial products company’s stock worth $86,727,000 after acquiring an additional 17,732 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Robert W. Baird upped 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

Nordson Stock Performance

Shares of NDSN stock opened at $258.44 on Wednesday. Nordson Co. has a one year low of $222.18 and a one year high of $279.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The firm’s 50 day moving average price is $255.79 and its 200-day moving average price is $245.69. The firm has a market cap of $14.78 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.93 and a beta of 0.90.

Insiders Place Their Bets

In related news, EVP Jennifer L. Mcdonough sold 225 shares of the company’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 transaction of $59,010.75. Following the sale, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. This represents a 6.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Lovass sold 317 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total transaction of $82,657.75. Following the completion of the transaction, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at $1,738,159.50. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,629 shares of company stock worth $914,400 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Nordson Company 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.