Joseph Kelley Sells 2,200 Shares of Nordson (NASDAQ:NDSN) Stock

Nordson Corporation (NASDAQ:NDSN) EVP Joseph Kelley sold 2,200 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $240.00, for a total transaction of $528,000.00. Following the completion of the sale, the executive vice president owned 6,405 shares of the company’s stock, valued at approximately $1,537,200. This represents a 25.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Nordson Price Performance

NDSN opened at $235.95 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.69 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 $266.86. The company has a fifty day simple moving average of $226.83 and a 200 day simple moving average of $212.80. The stock has a market cap of $13.26 billion, a P/E ratio of 29.64, a P/E/G ratio of 1.78 and a beta of 0.96.

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

Nordson Increases Dividend

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

Institutional Trading of Nordson

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Nordson by 0.4% in the second quarter. Vanguard Group Inc. now owns 6,200,937 shares of the industrial products company’s stock valued at $1,329,295,000 after acquiring an additional 22,090 shares during the last quarter. State Street Corp increased its position in shares of Nordson by 4.7% in the second quarter. State Street Corp now owns 2,958,110 shares of the industrial products company’s stock valued at $636,375,000 after acquiring an additional 133,229 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Nordson by 3.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock valued at $540,867,000 after purchasing an additional 90,704 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Nordson by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,068,214 shares of the industrial products company’s stock valued at $228,993,000 after purchasing an additional 48,556 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after purchasing an additional 142,991 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NDSN. Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Oppenheimer upped their target price on shares of Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, August 25th. KeyCorp upped 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. Finally, Robert W. Baird upped their target price on shares of Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.75.

Nordson Company 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.