First Trust Advisors LP trimmed its position in shares of Nordson Co. (NASDAQ:NDSN) by 9.3% during the first quarter, HoldingsChannel reports. The firm owned 25,332 shares of the industrial products company’s stock after selling 2,603 shares during the quarter. First Trust Advisors LP’s holdings in Nordson were worth $3,357,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in NDSN. Norges Bank acquired a new position in Nordson during the fourth quarter worth $59,907,000. Massachusetts Financial Services Co. MA raised its stake in shares of Nordson by 6.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,423,478 shares of the industrial products company’s stock valued at $527,942,000 after acquiring an additional 279,766 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nordson by 417.7% in the fourth quarter. Millennium Management LLC now owns 229,885 shares of the industrial products company’s stock valued at $27,437,000 after acquiring an additional 185,476 shares in the last quarter. Financial Advocates Investment Management raised its stake in shares of Nordson by 38,709.6% in the fourth quarter. Financial Advocates Investment Management now owns 166,493 shares of the industrial products company’s stock valued at $6,378,000 after acquiring an additional 166,064 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Nordson by 24.4% in the fourth quarter. American Century Companies Inc. now owns 717,276 shares of the industrial products company’s stock valued at $85,607,000 after acquiring an additional 140,915 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.
In other Nordson news, insider Shelly Peet sold 11,600 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $133.16, for a total value of $1,544,656.00. Following the sale, the insider now directly owns 29,296 shares in the company, valued at $3,901,055.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gina A. Beredo sold 700 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $137.26, for a total value of $96,082.00. Following the completion of the sale, the vice president now owns 6,208 shares in the company, valued at $852,110.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,658 shares of company stock worth $4,350,613. 1.97% of the stock is owned by insiders.
Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Monday, May 20th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.06). Nordson had a net margin of 14.64% and a return on equity of 22.46%. The company had revenue of $551.00 million during the quarter, compared to analyst estimates of $558.34 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Nordson Co. will post 6.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Friday, May 24th. Nordson’s dividend payout ratio is presently 23.57%.
Several brokerages have recently issued reports on NDSN. Zacks Investment Research upgraded Nordson from a “sell” rating to a “hold” rating and set a $139.00 price objective on the stock in a research note on Monday, June 10th. BidaskClub cut Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. ValuEngine cut Nordson from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, Oppenheimer increased their price objective on Nordson from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $137.80.
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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