Nordson Corporation $NDSN Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its stake in Nordson Corporation (NASDAQ:NDSN) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,913 shares of the industrial products company’s stock after selling 2,374 shares during the period. Logan Capital Management Inc.’s holdings in Nordson were worth $8,985,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NDSN. Harbour Investments Inc. increased its position in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 54 shares in the last quarter. Three Seasons Wealth LLC grew its stake in Nordson by 3.0% during the 2nd quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company’s stock worth $397,000 after buying an additional 54 shares during the last quarter. Wedbush Securities Inc. increased its position in Nordson by 2.2% during the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock worth $553,000 after buying an additional 58 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after buying an additional 67 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Nordson by 0.6% in the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson set a $285.00 target price on shares of Nordson in a report on Tuesday, October 21st. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. KeyCorp increased their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Oppenheimer raised their price target on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.75.

Insider Buying and Selling at Nordson

In related news, EVP Joseph P. Kelley sold 2,200 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the transaction, the executive vice president owned 6,405 shares of the company’s stock, valued at $1,537,200. This represents a 25.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

Nordson Stock Up 1.0%

Shares of NASDAQ:NDSN opened at $238.35 on Tuesday. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $227.77 and its 200-day simple moving average is $214.14. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.79 and a beta of 0.96.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $646.86 million during the quarter. As a group, equities research analysts predict that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a $0.82 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. This is an increase from Nordson’s previous quarterly dividend of $0.78. Nordson’s payout ratio is 41.21%.

About Nordson

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.