Insider Selling: Nordson (NASDAQ:NDSN) EVP Sells 2,200 Shares of Stock

Key Points

• Nordson EVP Joseph Kelley sold 2,200 shares of stock for $528,000, reducing his ownership by 25.57% to 6,405 shares.
• The company recently increased its quarterly dividend from $0.78 to $0.82, representing a yield of 1.4% and a payout ratio of 41.21%.
• Nordson's stock has a market capitalization of $13.30 billion and reported a P/E ratio of 29.74, suggesting healthy valuation metrics in the market.

Nordson Corporation (NASDAQ:NDSN - Get Free Report) EVP Joseph Kelley sold 2,200 shares of Nordson stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the completion of the sale, the executive vice president owned 6,405 shares of the company's stock, valued at $1,537,200. This trade represents a 25.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nordson Stock Performance

NDSN traded down $1.00 during trading on Wednesday, reaching $236.74. 23,827 shares of the company's stock were exchanged, compared to its average volume of 360,777. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The stock has a market capitalization of $13.30 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company's fifty day simple moving average is $226.21 and its 200-day simple moving average is $212.20. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. The company had revenue of $646.86 million during the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. As a group, research analysts predict that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.82 dividend. This is an increase from Nordson's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 annualized dividend and a yield of 1.4%. Nordson's payout ratio is presently 41.21%.

Analyst Ratings Changes

NDSN has been the topic of a number of recent research reports. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nordson in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $240.00 price target on shares of Nordson in a report on Thursday, August 21st. Oppenheimer upped their price target on Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, August 25th. Finally, Robert W. Baird upped their price target on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

Hedge Funds Weigh In On Nordson

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Nordson by 0.4% in the second quarter. Vanguard Group Inc. now owns 6,200,937 shares of the industrial products company's stock valued at $1,329,295,000 after acquiring an additional 22,090 shares in the last quarter. State Street Corp boosted its stake in Nordson by 4.7% in the second quarter. State Street Corp now owns 2,958,110 shares of the industrial products company's stock valued at $636,375,000 after acquiring an additional 133,229 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Nordson by 3.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company's stock valued at $540,867,000 after acquiring an additional 90,704 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Nordson by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,068,214 shares of the industrial products company's stock valued at $228,993,000 after acquiring an additional 48,556 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Nordson by 15.9% in the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock valued at $210,536,000 after acquiring an additional 142,991 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors.

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.

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