Massachusetts Financial Services Co. MA Purchases 61,430 Shares of Nordson Co. (NASDAQ:NDSN)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,742 shares of the industrial products company’s stock after purchasing an additional 61,430 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.56% of Nordson worth $84,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Nordson by 2.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock valued at $601,032,000 after buying an additional 68,810 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Nordson by 2.7% during the second quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock worth $139,624,000 after acquiring an additional 15,947 shares during the period. Bank of New York Mellon Corp lifted its position in Nordson by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after acquiring an additional 11,809 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nordson by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 338,990 shares of the industrial products company’s stock worth $78,623,000 after purchasing an additional 47,865 shares during the period. Finally, Raymond James & Associates increased its holdings in Nordson by 5.7% during the 3rd quarter. Raymond James & Associates now owns 330,225 shares of the industrial products company’s stock worth $86,727,000 after purchasing an additional 17,732 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Up 1.8 %

Shares of NDSN stock opened at $261.27 on Friday. The firm’s fifty day moving average price is $255.27 and its two-hundred day moving average price is $246.47. Nordson Co. has a 1 year low of $222.18 and a 1 year high of $279.38. The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $14.94 billion, a P/E ratio of 31.82, a PEG ratio of 1.91 and a beta of 0.90.

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

Wall Street Analyst Weigh In

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 report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and a consensus target price of $299.00.

Insider Transactions at Nordson

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

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.