Pinnacle Wealth Planning Services Inc. acquired a new position in Nordson Co. (NASDAQ:NDSN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,158 shares of the industrial products company’s stock, valued at approximately $754,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of NDSN. Eagle Asset Management Inc. raised its stake in Nordson by 1.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 17,296 shares of the industrial products company’s stock worth $2,444,000 after acquiring an additional 184 shares during the period. Navellier & Associates Inc purchased a new stake in Nordson during the 2nd quarter valued at approximately $203,000. Aptus Capital Advisors LLC grew its holdings in Nordson by 18.6% during the 2nd quarter. Aptus Capital Advisors LLC now owns 4,648 shares of the industrial products company’s stock valued at $656,000 after buying an additional 728 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Nordson by 228.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,240 shares of the industrial products company’s stock valued at $1,023,000 after buying an additional 5,038 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Nordson during the 2nd quarter valued at approximately $245,000. Institutional investors and hedge funds own 68.81% of the company’s stock.
Shares of NDSN stock traded up $3.21 on Friday, reaching $160.02. The company’s stock had a trading volume of 251,600 shares, compared to its average volume of 167,360. The stock’s fifty day simple moving average is $146.20 and its 200-day simple moving average is $139.55. Nordson Co. has a 1 year low of $110.16 and a 1 year high of $160.30. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. The company has a current ratio of 2.21, a quick ratio of 1.57 and a debt-to-equity ratio of 0.76.
A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Longbow Research set a $160.00 target price on shares of Nordson and gave the company a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Co raised their target price on shares of Nordson from $135.00 to $150.00 and gave the company a “market perform” rating in a report on Thursday. Finally, DA Davidson cut their target price on shares of Nordson from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $146.33.
In other Nordson news, insider Michael F. Hilton sold 8,538 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $146.81, for a total value of $1,253,463.78. Following the sale, the insider now owns 210,917 shares of the company’s stock, valued at approximately $30,964,724.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Hilton sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $138.85, for a total value of $694,250.00. Following the completion of the sale, the chief executive officer now directly owns 219,455 shares in the company, valued at approximately $30,471,326.75. The disclosure for this sale can be found here. Insiders have sold a total of 55,679 shares of company stock valued at $8,066,347 over the last 90 days. 1.97% of the stock is currently owned by company insiders.
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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