XXEC Inc. Trims Stake in Nordson Co. (NASDAQ:NDSN)

XXEC Inc. cut its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,729 shares of the industrial products company's stock after selling 3,881 shares during the quarter. Nordson comprises 6.2% of XXEC Inc.'s holdings, making the stock its 6th biggest position. XXEC Inc. owned approximately 0.05% of Nordson worth $7,853,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its position in Nordson by 208.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 111 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Nordson during the 4th quarter worth about $26,000. Sound Income Strategies LLC bought a new stake in shares of Nordson during the 4th quarter worth about $27,000. Fortitude Family Office LLC bought a new stake in shares of Nordson during the 4th quarter worth about $28,000. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Nordson during the 2nd quarter worth about $31,000. 72.11% of the stock is currently owned by institutional investors.

Insider Activity at Nordson

In related news, EVP Srinivas Subramanian sold 2,100 shares of the company's stock in a transaction on Friday, January 12th. The shares were sold at an average price of $250.79, for a total transaction of $526,659.00. Following the completion of the transaction, the executive vice president now directly owns 4,565 shares in the company, valued at approximately $1,144,856.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Stephen Lovass sold 1,213 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $250.13, for a total value of $303,407.69. Following the completion of the transaction, the executive vice president now owns 7,379 shares in the company, valued at approximately $1,845,709.27. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Srinivas Subramanian sold 2,100 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $250.79, for a total transaction of $526,659.00. Following the completion of the transaction, the executive vice president now owns 4,565 shares of the company's stock, valued at approximately $1,144,856.35. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company's stock.

Nordson Stock Up 0.1 %

NASDAQ NDSN traded up $0.33 during trading on Friday, reaching $271.13. The company's stock had a trading volume of 171,653 shares, compared to its average volume of 213,466. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $15.51 billion, a PE ratio of 31.71, a PEG ratio of 2.04 and a beta of 1.00. The business has a 50-day moving average price of $264.96 and a 200-day moving average price of $246.18. Nordson Co. has a 1-year low of $208.77 and a 1-year high of $278.00.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The firm had revenue of $633.20 million during the quarter, compared to analysts' expectations of $630.77 million. During the same period in the previous year, the company earned $1.95 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Nordson Co. will post 10.22 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, February 16th. Nordson's dividend payout ratio is currently 31.81%.

Analyst Ratings Changes

A number of analysts have commented on NDSN shares. KeyCorp restated a "sector weight" rating on shares of Nordson in a research report on Monday, February 26th. DA Davidson boosted their price target on shares of Nordson from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. StockNews.com raised shares of Nordson from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Nordson from $290.00 to $315.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Nordson has a consensus rating of "Moderate Buy" and an average price target of $278.00.

Nordson Company Profile

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.