Nordson Corp. (NDSN) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its position in Nordson Corp. (NASDAQ:NDSN) by 47.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,514 shares of the company’s stock after selling 2,262 shares during the period. PNC Financial Services Group Inc.’s holdings in Nordson Corp. were worth $211,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its position in Nordson Corp. by 1.4% in the first quarter. UBS Asset Management Americas Inc. now owns 70,608 shares of the company’s stock worth $5,368,000 after buying an additional 1,006 shares during the period. UBS Group AG boosted its position in Nordson Corp. by 17.6% in the first quarter. UBS Group AG now owns 72,311 shares of the company’s stock worth $5,499,000 after buying an additional 10,832 shares during the period. Lazard Asset Management LLC boosted its position in Nordson Corp. by 21.9% in the first quarter. Lazard Asset Management LLC now owns 147,251 shares of the company’s stock worth $11,196,000 after buying an additional 26,500 shares during the period. Zebra Capital Management LLC boosted its position in Nordson Corp. by 30.5% in the first quarter. Zebra Capital Management LLC now owns 17,894 shares of the company’s stock worth $1,361,000 after buying an additional 4,179 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in Nordson Corp. during the first quarter worth about $973,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.
Shares of Nordson Corp. (NASDAQ:NDSN) traded down 0.29% during midday trading on Tuesday, reaching $98.72. 35,291 shares of the company traded hands. The firm has a market capitalization of $5.65 billion, a PE ratio of 23.27 and a beta of 1.33. The company has a 50-day moving average of $97.44 and a 200 day moving average of $86.12. Nordson Corp. has a 12-month low of $51.89 and a 12-month high of $102.20.
Nordson Corp. (NASDAQ:NDSN) last posted its earnings results on Monday, August 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.14. Nordson Corp. had a net margin of 14.07% and a return on equity of 34.16%. The business had revenue of $489.89 million for the quarter. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that Nordson Corp. will post $4.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a $0.27 dividend. The ex-dividend date was Friday, August 19th. This is a boost from Nordson Corp.’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 1.09%. Nordson Corp.’s dividend payout ratio is currently 25.41%.
A number of research firms have issued reports on NDSN. Seaport Global Securities increased their target price on Nordson Corp. from $99.00 to $115.00 in a report on Wednesday, August 24th. SunTrust Banks Inc. increased their target price on Nordson Corp. from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Zacks Investment Research cut Nordson Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Robert W. Baird lowered their target price on Nordson Corp. from $106.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, August 24th. Finally, Royal Bank Of Canada lowered their target price on Nordson Corp. from $106.00 to $98.00 and set a “sector perform” rating for the company in a report on Wednesday, August 24th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Nordson Corp. currently has an average rating of “Buy” and an average price target of $103.90.
In other Nordson Corp. news, insider Gregory P. Merk sold 19,800 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $100.24, for a total value of $1,984,752.00. Following the sale, the insider now directly owns 59,715 shares in the company, valued at approximately $5,985,831.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas C. Bloomfield sold 3,532 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $99.00, for a total transaction of $349,668.00. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.
About Nordson Corp.
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