Nordson Co. (NDSN) Stake Decreased by Ardevora Asset Management LLP

Ardevora Asset Management LLP decreased its holdings in Nordson Co. (NASDAQ:NDSN) by 6.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,102 shares of the industrial products company’s stock after selling 18,100 shares during the quarter. Ardevora Asset Management LLP owned about 0.43% of Nordson worth $35,017,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NDSN. Massachusetts Financial Services Co. MA raised its stake in Nordson by 64.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,220,240 shares of the industrial products company’s stock worth $541,921,000 after acquiring an additional 1,646,436 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Nordson by 13,832.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 383,982 shares of the industrial products company’s stock worth $2,989,000 after acquiring an additional 381,226 shares during the last quarter. Schroder Investment Management Group raised its stake in Nordson by 30.9% in the 2nd quarter. Schroder Investment Management Group now owns 615,526 shares of the industrial products company’s stock worth $56,047,000 after acquiring an additional 145,187 shares during the last quarter. BlackRock Inc. raised its stake in Nordson by 2.3% in the 2nd quarter. BlackRock Inc. now owns 4,518,527 shares of the industrial products company’s stock worth $580,225,000 after acquiring an additional 102,044 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Nordson by 165.3% in the 1st quarter. Legal & General Group Plc now owns 162,465 shares of the industrial products company’s stock worth $22,150,000 after acquiring an additional 101,235 shares during the last quarter. 67.74% of the stock is owned by hedge funds and other institutional investors.

NASDAQ NDSN opened at $120.26 on Wednesday. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.49 and a beta of 1.22. Nordson Co. has a fifty-two week low of $111.17 and a fifty-two week high of $151.84. The company has a quick ratio of 2.36, a current ratio of 3.16 and a debt-to-equity ratio of 1.07.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, August 20th. The industrial products company reported $1.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.60. The business had revenue of $581.20 million during the quarter, compared to analyst estimates of $590.75 million. Nordson had a return on equity of 26.37% and a net margin of 16.40%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. Analysts forecast that Nordson Co. will post 5.98 EPS for the current year.

Nordson declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Nordson news, Director Mary G. Puma sold 2,983 shares of Nordson stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total transaction of $433,847.52. Following the completion of the transaction, the director now owns 18,799 shares in the company, valued at approximately $2,734,126.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.01% of the company’s stock.

NDSN has been the subject of a number of research analyst reports. BidaskClub upgraded Nordson from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. DA Davidson set a $160.00 target price on Nordson and gave the stock a “buy” rating in a research note on Tuesday, August 21st. ValuEngine upgraded Nordson from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research lowered Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $156.57.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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