Piedmont Investment Advisors Inc. Increases Stake in Nordson Co. (NDSN)

Piedmont Investment Advisors Inc. grew its holdings in Nordson Co. (NASDAQ:NDSN) by 391,500.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,916 shares of the industrial products company’s stock after buying an additional 3,915 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Nordson were worth $544,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Nordson in the second quarter valued at about $132,000. Checchi Capital Advisers LLC bought a new position in Nordson in the third quarter valued at about $202,000. Keel Point LLC bought a new position in Nordson in the third quarter valued at about $203,000. Sawtooth Solutions LLC bought a new position in Nordson in the second quarter valued at about $205,000. Finally, Hartford Investment Management Co. bought a new position in Nordson in the second quarter valued at about $206,000. Institutional investors own 68.03% of the company’s stock.

Shares of NDSN opened at $124.58 on Friday. The company has a current ratio of 3.16, a quick ratio of 2.36 and a debt-to-equity ratio of 1.07. Nordson Co. has a 1 year low of $111.17 and a 1 year high of $151.84. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.43 and a beta of 1.33.

Nordson (NASDAQ:NDSN) last issued its earnings results on Monday, August 20th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.60. Nordson had a return on equity of 26.37% and a net margin of 16.40%. The firm had revenue of $581.20 million for the quarter, compared to analysts’ expectations of $590.75 million. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Nordson Co. will post 5.98 earnings per share for the current year.

Nordson declared that its Board of Directors has initiated a share buyback program on Tuesday, September 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Nordson news, Director Mary G. Puma sold 2,983 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total transaction of $433,847.52. Following the transaction, the director now owns 18,799 shares in the company, valued at $2,734,126.56. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.01% of the stock is currently owned by company insiders.

NDSN has been the topic of several recent research reports. BidaskClub upgraded Nordson from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. DA Davidson set a $160.00 price target on Nordson and gave the company a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research cut Nordson from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Finally, ValuEngine upgraded Nordson from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $156.57.

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Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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