Nordson (NASDAQ:NDSN) EVP Sells 2,300 Shares of Stock

Key Points

• Executive Sale: EVP Joseph Kelley sold 2,300 shares of Nordson stock on October 16th for approximately $534,497, reducing his ownership by 21.09% to 8,605 shares.
• Dividend Increase: Nordson recently raised its quarterly dividend to $0.82 per share, resulting in an annualized dividend of $3.28 and a yield of 1.4%.
• Analyst Ratings: Nordson holds an average rating of "Moderate Buy" with a consensus price target of $255.75; recent upgrades from analysts include a price target increase by Oppenheimer to $275.00.

Nordson Corporation (NASDAQ:NDSN - Get Free Report) EVP Joseph Kelley sold 2,300 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $232.39, for a total transaction of $534,497.00. Following the completion of the sale, the executive vice president directly owned 8,605 shares of the company's stock, valued at $1,999,715.95. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Nordson Price Performance

NASDAQ NDSN traded up $2.32 on Monday, reaching $235.66. The company had a trading volume of 185,812 shares, compared to its average volume of 363,276. The stock has a market capitalization of $13.24 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The firm's 50 day moving average price is $225.27 and its 200 day moving average price is $211.61. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86.

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

Nordson Increases Dividend

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

Institutional Investors Weigh In On Nordson

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Nordson during the first quarter worth approximately $28,000. CYBER HORNET ETFs LLC purchased a new position in shares of Nordson in the 2nd quarter worth about $31,000. Trust Co. of Toledo NA OH acquired a new position in shares of Nordson in the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Nordson by 640.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company's stock worth $32,000 after purchasing an additional 128 shares during the period. Finally, NewSquare Capital LLC increased its position in Nordson by 212.0% during the 2nd quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company's stock worth $33,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NDSN. Jefferies Financial Group reissued a "hold" rating and issued a $240.00 price target on shares of Nordson in a research note on Thursday, August 21st. Robert W. Baird increased their price objective on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Oppenheimer increased their price objective on shares of Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, August 25th. Finally, KeyCorp upped their price target on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Nordson has an average rating of "Moderate Buy" and a consensus price target of $255.75.

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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