Sequoia Financial Advisors LLC Purchases Shares of 1,453 Nordson Co. (NDSN)
Sequoia Financial Advisors LLC purchased a new stake in Nordson Co. (NASDAQ:NDSN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,453 shares of the industrial products company’s stock, valued at approximately $213,000.
Other hedge funds have also added to or reduced their stakes in the company. Ardevora Asset Management LLP grew its stake in shares of Nordson by 0.7% in the third quarter. Ardevora Asset Management LLP now owns 289,900 shares of the industrial products company’s stock valued at $34,353,000 after acquiring an additional 2,100 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Nordson in the third quarter valued at about $860,000. Dupont Capital Management Corp grew its stake in shares of Nordson by 73.3% in the third quarter. Dupont Capital Management Corp now owns 8,494 shares of the industrial products company’s stock valued at $1,007,000 after acquiring an additional 3,592 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Nordson in the third quarter valued at about $308,000. Finally, Rhumbline Advisers grew its stake in shares of Nordson by 6.6% in the third quarter. Rhumbline Advisers now owns 119,835 shares of the industrial products company’s stock valued at $14,200,000 after acquiring an additional 7,439 shares in the last quarter. Institutional investors and hedge funds own 66.96% of the company’s stock.
Several equities analysts recently commented on NDSN shares. B. Riley set a $175.00 price target on shares of Nordson and gave the company a “buy” rating in a research note on Friday, February 23rd. DA Davidson assumed coverage on shares of Nordson in a research note on Wednesday, February 21st. They issued a “buy” rating and a $160.00 price target on the stock. BidaskClub cut shares of Nordson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. SunTrust Banks upped their price objective on shares of Nordson to $166.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, KeyCorp reaffirmed a “buy” rating and set a $145.00 price objective on shares of Nordson in a research report on Sunday, November 19th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Nordson currently has a consensus rating of “Hold” and a consensus price target of $152.40.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.01. Nordson had a net margin of 15.85% and a return on equity of 30.41%. The business had revenue of $550.42 million during the quarter, compared to analysts’ expectations of $538.21 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. Nordson’s revenue was up 35.1% compared to the same quarter last year. analysts expect that Nordson Co. will post 6.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be issued a $0.30 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.89%. Nordson’s dividend payout ratio (DPR) is currently 21.54%.
In other news, SVP John J. Keane sold 20,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $150.35, for a total value of $3,007,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James E. Devries sold 5,800 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $148.86, for a total transaction of $863,388.00. Following the completion of the transaction, the vice president now directly owns 46,222 shares of the company’s stock, valued at approximately $6,880,606.92. The disclosure for this sale can be found here. Insiders sold 84,597 shares of company stock valued at $12,623,580 in the last three months. Company insiders own 2.01% of the company’s stock.
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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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