Allspring Global Investments Holdings LLC Reduces Holdings in Nordson Co. (NASDAQ:NDSN)

Allspring Global Investments Holdings LLC lowered its position in shares of Nordson Co. (NASDAQ:NDSN) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,350 shares of the industrial products company’s stock after selling 108 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Nordson were worth $482,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the period. UMB Bank n.a. raised its stake in shares of Nordson by 26.1% during the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 52 shares during the period. Covestor Ltd raised its stake in shares of Nordson by 18.8% during the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 43 shares during the period. Brooklyn Investment Group raised its stake in shares of Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP purchased a new stake in shares of Nordson during the third quarter valued at approximately $109,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Insider Buying and Selling at Nordson

In other news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the transaction, the executive vice president now owns 7,347 shares of the company’s stock, valued at approximately $1,519,286.13. The trade was a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.

Nordson Stock Down 1.2 %

NDSN stock opened at $212.80 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. Nordson Co. has a 1-year low of $196.83 and a 1-year high of $279.38. The firm has a fifty day moving average price of $213.62 and a two-hundred day moving average price of $238.75. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.65 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Research analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 annualized dividend and a yield of 1.47%. Nordson’s payout ratio is 39.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research note on Monday. Robert W. Baird restated a “neutral” rating and issued a $237.00 price target (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nordson presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.25.

About Nordson

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.