Lord Abbett & CO. LLC Lowers Holdings in Nordson Corporation (NDSN)
Lord Abbett & CO. LLC decreased its position in Nordson Corporation (NASDAQ:NDSN) by 17.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 599,670 shares of the industrial products company’s stock after selling 125,240 shares during the period. Lord Abbett & CO. LLC owned about 1.04% of Nordson Corporation worth $72,752,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NDSN. BlackRock Inc. grew its holdings in Nordson Corporation by 6,982.3% in the first quarter. BlackRock Inc. now owns 4,380,454 shares of the industrial products company’s stock valued at $538,093,000 after purchasing an additional 4,318,603 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Nordson Corporation in the second quarter valued at $158,781,000. Atlanta Capital Management Co. L L C grew its holdings in Nordson Corporation by 91.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock valued at $215,658,000 after purchasing an additional 848,006 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Nordson Corporation in the second quarter valued at $75,388,000. Finally, Koch Industries Inc. acquired a new stake in Nordson Corporation in the second quarter valued at $425,000. 65.48% of the stock is currently owned by institutional investors.
Nordson Corporation (NASDAQ NDSN) traded up 0.07% during mid-day trading on Tuesday, hitting $123.31. The company had a trading volume of 52,361 shares. The company has a market cap of $7.11 billion, a PE ratio of 24.52 and a beta of 1.37. The company’s 50 day moving average price is $115.69 and its 200-day moving average price is $120.92. Nordson Corporation has a one year low of $95.35 and a one year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last announced its earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. The company had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. Nordson Corporation’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share. Equities research analysts anticipate that Nordson Corporation will post $5.32 EPS for the current fiscal year.
In other news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the sale, the vice president now directly owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.15% of the stock is owned by insiders.
Several analysts have weighed in on the company. KeyCorp reissued a “buy” rating and issued a $145.00 target price on shares of Nordson Corporation in a report on Thursday, October 12th. BidaskClub lowered Nordson Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Robert W. Baird reissued a “hold” rating and issued a $138.00 target price on shares of Nordson Corporation in a report on Wednesday, October 4th. Zacks Investment Research raised Nordson Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Longbow Research raised Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $141.14.
Nordson Corporation Company Profile
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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