Verition Fund Management LLC Cuts Stake in Nordson Co. (NASDAQ:NDSN)

Verition Fund Management LLC trimmed its stake in Nordson Co. (NASDAQ:NDSN) by 74.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,713 shares of the industrial products company’s stock after selling 10,778 shares during the quarter. Verition Fund Management LLC’s holdings in Nordson were worth $975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDSN. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Nordson during the 2nd quarter valued at $27,000. Tortoise Investment Management LLC grew its position in Nordson by 70.7% during the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 58 shares during the period. Blue Trust Inc. increased its stake in Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nordson in the 2nd quarter worth about $46,000. Finally, UMB Bank n.a. lifted its stake 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 valued at $46,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Analysts Set New Price Targets

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

Nordson Stock Down 0.1 %

Shares of NASDAQ NDSN opened at $254.40 on Monday. The stock has a fifty day moving average price of $255.55 and a 200 day moving average price of $245.68. The company has a market cap of $14.55 billion, a P/E ratio of 30.99, a P/E/G ratio of 1.91 and a beta of 0.90. Nordson Co. has a 12-month low of $222.18 and a 12-month high of $279.38. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,164,576.82. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stephen Lovass sold 317 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 $1,738,159.50. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,629 shares of company stock worth $914,400. 0.86% of the stock is currently owned by corporate insiders.

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.