Oppenheimer Asset Management Inc. Has $1.92 Million Stock Position in Nordson Co. (NASDAQ:NDSN)

Oppenheimer Asset Management Inc. cut its holdings in Nordson Co. (NASDAQ:NDSN) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,310 shares of the industrial products company’s stock after selling 99 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Nordson were worth $1,920,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Nordson during the 2nd quarter worth approximately $27,000. Tortoise Investment Management LLC boosted its stake in shares of Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after buying an additional 58 shares during the period. Blue Trust Inc. grew its position in Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock worth $42,000 after buying an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Nordson in the 2nd quarter valued at $46,000. Finally, UMB Bank n.a. lifted its position in shares of Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 191 shares during the period. 72.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $299.00.

Insider Transactions at Nordson

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the transaction, the executive vice president now owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Mcdonough sold 225 shares of Nordson stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the sale, the executive vice president now directly owns 3,287 shares in the company, valued at $862,081.49. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Nordson Stock Performance

Shares of NASDAQ:NDSN opened at $254.78 on Friday. Nordson Co. has a 1 year low of $222.18 and a 1 year high of $279.38. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. The company’s 50 day simple moving average is $254.67 and its 200 day simple moving average is $246.88.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.08. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same quarter last year, the company posted $2.35 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts predict that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson 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.