Sumitomo Mitsui Trust Group Inc. Buys 4,231 Shares of Nordson Co. (NASDAQ:NDSN)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Nordson Co. (NASDAQ:NDSN) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,656 shares of the industrial products company’s stock after purchasing an additional 4,231 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Nordson worth $31,163,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Nordson by 289.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 260,312 shares of the industrial products company’s stock valued at $60,377,000 after acquiring an additional 193,421 shares during the last quarter. Swedbank AB bought a new position in Nordson in the first quarter valued at about $48,044,000. Price T Rowe Associates Inc. MD raised its position in Nordson by 237.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after purchasing an additional 174,330 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Nordson by 26,109.1% during the third quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock valued at $27,327,000 after purchasing an additional 103,653 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Nordson by 10.4% during the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock worth $258,764,000 after purchasing an additional 88,966 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Nordson Stock Down 0.7 %

Shares of NDSN opened at $254.78 on Friday. The stock’s 50-day moving average price is $254.67 and its two-hundred day moving average price is $246.88. Nordson Co. has a 12 month low of $222.18 and a 12 month high of $279.38. The company has a market capitalization of $14.57 billion, a PE ratio of 31.03, a PEG ratio of 1.92 and a beta of 0.90. 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 (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 earnings per share. On average, analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at $2,164,576.82. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the sale, the executive vice president now directly 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 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.