Raymond James Trust N.A. Increases Stock Position in Nordson Co. (NASDAQ:NDSN)

Raymond James Trust N.A. grew its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,754 shares of the industrial products company’s stock after buying an additional 257 shares during the period. Raymond James Trust N.A.’s holdings in Nordson were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AlphaCore Capital LLC bought a new stake in Nordson during the third quarter worth about $206,000. Massachusetts Financial Services Co. MA boosted its position in shares of Nordson by 23.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock worth $84,499,000 after purchasing an additional 61,430 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Nordson by 17.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,556 shares of the industrial products company’s stock worth $671,000 after buying an additional 385 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Nordson during the 3rd quarter valued at approximately $1,424,000. Finally, PNC Financial Services Group Inc. raised its stake in Nordson by 10.4% during the third quarter. PNC Financial Services Group Inc. now owns 12,184 shares of the industrial products company’s stock valued at $3,200,000 after buying an additional 1,146 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.00.

Insider Activity

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. This represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of Nordson stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the sale, the executive vice president now owns 3,287 shares of the company’s stock, valued at $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Nordson Stock Performance

NDSN stock opened at $263.62 on Tuesday. The stock’s 50 day simple moving average is $255.48 and its 200 day simple moving average is $246.20. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. Nordson Co. has a 12-month low of $222.18 and a 12-month high of $279.38. The stock has a market capitalization of $15.07 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90.

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.