Huntington National Bank Trims Stake in Nordson Co. (NASDAQ:NDSN)

Huntington National Bank trimmed its position in Nordson Co. (NASDAQ:NDSN) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,494 shares of the industrial products company’s stock after selling 168 shares during the quarter. Huntington National Bank’s holdings in Nordson were worth $522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Nordson during the fourth quarter valued at approximately $142,670,000. Raymond James Financial Inc. purchased a new position in shares of Nordson in the 4th quarter valued at $74,005,000. State Street Corp raised its position in shares of Nordson by 7.2% in the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after acquiring an additional 177,282 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Nordson by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 6,226,757 shares of the industrial products company’s stock worth $1,302,887,000 after purchasing an additional 93,146 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Nordson by 23.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 397,924 shares of the industrial products company’s stock valued at $83,262,000 after purchasing an additional 76,182 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 5.2 %

Nordson stock opened at $176.73 on Friday. The business’s 50-day simple moving average is $210.54 and its two-hundred day simple moving average is $230.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The company has a market cap of $10.06 billion, a PE ratio of 22.48, a PEG ratio of 1.65 and a beta of 0.96. Nordson Co. has a fifty-two week low of $173.36 and a fifty-two week high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The business had revenue of $615.42 million during the quarter, compared to analyst estimates of $639.40 million. Equities analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s payout ratio is 39.69%.

Insiders Place Their Bets

In other news, EVP Stephen Lovass sold 1,299 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now owns 7,347 shares in the company, valued at $1,519,286.13. This represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on NDSN shares. KeyCorp raised shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research report on Tuesday, March 4th. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and raised their target price for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Robert W. Baird reissued a “neutral” rating and issued a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, Baird R W lowered Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $256.20.

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.