M&T Bank Corp Purchases 93 Shares of Nordson Co. (NASDAQ:NDSN)

M&T Bank Corp increased its position in Nordson Co. (NASDAQ:NDSN) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,526 shares of the industrial products company’s stock after acquiring an additional 93 shares during the period. M&T Bank Corp’s holdings in Nordson were worth $2,239,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NDSN. State Street Corp raised its stake in shares of Nordson by 7.2% in the third quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after purchasing an additional 177,282 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Nordson by 2.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock worth $601,032,000 after buying an additional 68,810 shares during the last quarter. American Century Companies Inc. lifted its stake in Nordson by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock valued at $139,624,000 after acquiring an additional 15,947 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Nordson by 2.5% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nordson by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 338,990 shares of the industrial products company’s stock worth $78,623,000 after acquiring an additional 47,865 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird restated a “neutral” rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research report on Friday. DA Davidson dropped their price target on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $279.00.

Nordson Stock Performance

NDSN opened at $226.46 on Friday. Nordson Co. has a 12-month low of $222.18 and a 12-month high of $279.38. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.85 and a beta of 0.90. 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 company’s 50 day moving average is $253.99 and its 200 day moving average is $245.73.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 20.12%. The firm had revenue of $744.00 million during the quarter, compared to the consensus estimate of $736.83 million. During the same quarter in the previous year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Nordson Co. will post 10.35 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Stephen Lovass sold 317 shares of Nordson stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total transaction of $82,657.75. Following the transaction, the executive vice president now owns 6,666 shares in the company, valued at approximately $1,738,159.50. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the sale, the executive vice president now owns 3,287 shares of the company’s stock, valued at $862,081.49. The trade was a 6.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,629 shares of company stock worth $914,400 over the last quarter. 0.86% of the stock is currently owned by corporate insiders.

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.