Bowen Hanes & Co. Inc. Decreases Holdings in Nordson Corporation $NDSN

Bowen Hanes & Co. Inc. lowered its stake in Nordson Corporation (NASDAQ:NDSN) by 98.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379 shares of the industrial products company’s stock after selling 194,920 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Nordson were worth $510,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NDSN. Confluence Investment Management LLC lifted its stake in shares of Nordson by 118.5% in the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company’s stock valued at $72,048,000 after purchasing an additional 182,305 shares during the last quarter. Nuveen LLC bought a new position in shares of Nordson during the 1st quarter valued at approximately $29,125,000. Invesco Ltd. raised its holdings in Nordson by 15.9% during the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after buying an additional 142,991 shares during the period. Alyeska Investment Group L.P. bought a new stake in Nordson in the first quarter worth $25,827,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Nordson by 3.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock worth $540,867,000 after buying an additional 90,704 shares during the last quarter. 72.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NDSN shares. Robert W. Baird boosted their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordson in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer boosted their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, August 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $255.75.

Nordson Price Performance

Nordson stock opened at $233.48 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The firm has a 50-day moving average of $230.84 and a two-hundred day moving average of $220.03. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The firm 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, research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued a $0.82 dividend. The ex-dividend date was Thursday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. This is a positive change from Nordson’s previous quarterly dividend of $0.78. Nordson’s dividend payout ratio (DPR) is currently 41.21%.

Insiders Place Their Bets

In other news, EVP James E. Devries sold 9,100 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $233.60, for a total transaction of $2,125,760.00. Following the transaction, the executive vice president owned 51,223 shares of the company’s stock, valued at approximately $11,965,692.80. This represents a 15.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph P. Kelley sold 2,300 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $232.39, for a total transaction of $534,497.00. Following the completion of the sale, the executive vice president directly owned 8,605 shares of the company’s stock, valued at approximately $1,999,715.95. This trade represents a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,600 shares of company stock worth $3,188,257 in the last three months. Corporate insiders own 0.80% 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.