Rhumbline Advisers Boosts Stake in Nordson Corporation $NDSN

Rhumbline Advisers boosted its position in Nordson Corporation (NASDAQ:NDSN) by 1.0% in the 2nd quarter, Holdings Channel reports. The firm owned 115,006 shares of the industrial products company’s stock after buying an additional 1,120 shares during the quarter. Rhumbline Advisers’ holdings in Nordson were worth $24,654,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of Nordson during the first quarter valued at $231,000. Avantax Advisory Services Inc. increased its position in Nordson by 10.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,233 shares of the industrial products company’s stock valued at $652,000 after purchasing an additional 311 shares during the period. Assetmark Inc. boosted its position in Nordson by 8.2% during the first quarter. Assetmark Inc. now owns 9,484 shares of the industrial products company’s stock valued at $1,913,000 after purchasing an additional 721 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Nordson by 8.7% during the first quarter. Empirical Finance LLC now owns 1,307 shares of the industrial products company’s stock valued at $264,000 after buying an additional 105 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Nordson by 28.6% during the 1st quarter. LPL Financial LLC now owns 155,474 shares of the industrial products company’s stock worth $31,362,000 after acquiring an additional 34,549 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

NASDAQ:NDSN opened at $238.00 on Thursday. 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 Corporation has a 12 month low of $165.03 and a 12 month high of $261.69. The firm has a market cap of $13.37 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The stock has a 50 day moving average of $231.51 and a two-hundred day moving average of $221.18.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird upped their target price on Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Oppenheimer lifted their price target on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, August 25th. DA Davidson set a $285.00 price objective on shares of Nordson in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Nordson from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.75.

Insider Activity at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 2,200 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $240.00, for a total value of $528,000.00. Following the transaction, the executive vice president directly owned 6,405 shares in the company, valued at $1,537,200. The trade was a 25.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James E. Devries sold 9,100 shares of Nordson stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $233.60, for a total transaction of $2,125,760.00. Following the sale, the executive vice president directly owned 51,223 shares in the company, valued at approximately $11,965,692.80. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 13,600 shares of company stock valued at $3,188,257. Insiders own 0.80% of the company’s stock.

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.