Nordson Corporation $NDSN Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Nordson Corporation (NASDAQ:NDSN) by 14.0% in the second quarter, Holdings Channel.com reports. The fund owned 36,744 shares of the industrial products company’s stock after selling 5,962 shares during the period. Bank of Montreal Can’s holdings in Nordson were worth $7,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Nordson by 0.6% during the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 69 shares during the last quarter. Xponance Inc. lifted its position in shares of Nordson by 1.9% in the 1st quarter. Xponance Inc. now owns 7,641 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 143 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Nordson by 40.8% in the 1st quarter. Stephens Inc. AR now owns 2,728 shares of the industrial products company’s stock valued at $550,000 after buying an additional 791 shares during the period. Isthmus Partners LLC boosted its holdings in shares of Nordson by 6.1% in the 1st quarter. Isthmus Partners LLC now owns 1,464 shares of the industrial products company’s stock valued at $295,000 after buying an additional 84 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Nordson during the 1st quarter valued at about $11,156,000. 72.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. DA Davidson set a $285.00 target price on shares of Nordson in a report on Tuesday, October 21st. Robert W. Baird increased their price target on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Wall Street Zen raised Nordson from a “hold” rating to a “buy” rating in a report on Saturday, August 23rd. Jefferies Financial Group restated a “hold” rating and set a $240.00 price objective on shares of Nordson in a research note on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.75.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 2,300 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the transaction, the executive vice president owned 8,605 shares in the company, valued at $1,999,715.95. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $232.61 on Monday. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a market cap of $13.07 billion, a PE ratio of 29.22, a P/E/G ratio of 1.77 and a beta of 0.98. The stock has a 50 day simple moving average of $229.43 and a 200-day simple moving average of $217.53. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

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

Nordson Increases Dividend

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