Everence Capital Management Inc. Trims Stake in Nordson Co. (NASDAQ:NDSN)

Everence Capital Management Inc. cut its stake in Nordson Co. (NASDAQ:NDSN) by 51.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,270 shares of the industrial products company’s stock after selling 1,340 shares during the period. Everence Capital Management Inc.’s holdings in Nordson were worth $266,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. National Bank of Canada FI raised its holdings in Nordson by 24.5% in the second quarter. National Bank of Canada FI now owns 14,921 shares of the industrial products company’s stock worth $3,397,000 after purchasing an additional 2,933 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Nordson during the 2nd quarter valued at about $60,000. Acadian Asset Management LLC bought a new stake in Nordson during the second quarter worth about $134,000. Ashton Thomas Private Wealth LLC purchased a new stake in Nordson in the second quarter worth about $27,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Nordson by 0.8% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 6,259 shares of the industrial products company’s stock valued at $1,452,000 after purchasing an additional 50 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NDSN. Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Robert W. Baird restated a “neutral” rating and set a $237.00 price target (down from $294.00) on shares of Nordson in a report on Friday, December 13th. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, DA Davidson reduced their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and an average price target of $279.00.

Nordson Trading Down 0.7 %

Nordson stock opened at $205.43 on Wednesday. Nordson Co. has a one year low of $204.20 and a one year high of $279.38. The business’s fifty day moving average is $239.75 and its 200 day moving average is $243.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.41 and a quick ratio of 1.52. The stock has a market capitalization of $11.71 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 19.87%. The firm had revenue of $744.00 million during the quarter, compared to analyst estimates of $736.83 million. During the same period in the previous year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Nordson Co. will post 10.34 EPS for the current year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.52%. Nordson’s dividend payout ratio is currently 38.47%.

Insider Buying and Selling at Nordson

In other news, EVP Jennifer L. Mcdonough sold 225 shares of Nordson stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the transaction, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. The trade was a 6.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Lovass sold 317 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total transaction of $82,657.75. Following the completion of the sale, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at $1,738,159.50. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 629 shares of company stock valued at $164,460. Insiders own 0.86% of the company’s stock.

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.