Bank of Montreal Can decreased its stake in Nordson Co. (NASDAQ:NDSN) by 18.0% in the first quarter, HoldingsChannel.com reports. The firm owned 16,349 shares of the industrial products company’s stock after selling 3,600 shares during the period. Bank of Montreal Can’s holdings in Nordson were worth $2,166,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in shares of Nordson in the 1st quarter valued at $30,000. Legal & General Group Plc boosted its position in Nordson by 1.9% during the 4th quarter. Legal & General Group Plc now owns 155,666 shares of the industrial products company’s stock worth $18,578,000 after acquiring an additional 2,902 shares during the period. Rhumbline Advisers boosted its position in Nordson by 28.3% during the 4th quarter. Rhumbline Advisers now owns 142,656 shares of the industrial products company’s stock worth $17,026,000 after acquiring an additional 31,468 shares during the period. Bahl & Gaynor Inc. boosted its position in Nordson by 24.8% during the 4th quarter. Bahl & Gaynor Inc. now owns 45,775 shares of the industrial products company’s stock worth $5,463,000 after acquiring an additional 9,104 shares during the period. Finally, Vanguard Group Inc boosted its position in Nordson by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 5,024,905 shares of the industrial products company’s stock worth $697,959,000 after acquiring an additional 113,574 shares during the period. Institutional investors and hedge funds own 70.50% of the company’s stock.
In other news, insider John J. Keane sold 43,900 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $132.69, for a total transaction of $5,825,091.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shelly Peet sold 11,600 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $133.16, for a total value of $1,544,656.00. Following the sale, the insider now directly owns 29,296 shares of the company’s stock, valued at $3,901,055.36. The disclosure for this sale can be found here. Insiders have sold a total of 73,560 shares of company stock valued at $9,831,639 over the last ninety days. Company insiders own 1.97% of the company’s stock.
Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.21). Nordson had a return on equity of 23.01% and a net margin of 14.59%. The business had revenue of $497.91 million for the quarter, compared to analyst estimates of $497.99 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. The company’s revenue was down 9.5% compared to the same quarter last year. Equities analysts expect that Nordson Co. will post 6.34 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 24th. Nordson’s dividend payout ratio (DPR) is presently 23.57%.
A number of equities research analysts have commented on the company. Oppenheimer raised their price objective on Nordson from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 23rd. BidaskClub upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded Nordson from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, ValuEngine upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $143.00.
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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