Truist Financial Corp Sells 5,617 Shares of Nordson Co. (NASDAQ:NDSN)

Truist Financial Corp reduced its position in Nordson Co. (NASDAQ:NDSN) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,530 shares of the industrial products company’s stock after selling 5,617 shares during the quarter. Truist Financial Corp’s holdings in Nordson were worth $9,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Blue Trust Inc. boosted its stake in shares of Nordson by 130.0% during the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the period. UMB Bank n.a. grew its holdings in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 52 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Nordson by 695.0% in the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 278 shares during the period. Covestor Ltd increased its position in shares of Nordson by 18.8% in the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 43 shares during the period. Finally, Quarry LP purchased a new position in shares of Nordson in the third quarter valued at about $109,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Trading Down 1.4 %

Shares of NASDAQ NDSN opened at $215.44 on Friday. The firm’s 50 day moving average price is $213.85 and its 200-day moving average price is $238.84. The company has a market cap of $12.30 billion, a PE ratio of 27.41, a P/E/G ratio of 1.64 and a beta of 0.95. Nordson Co. has a 52-week low of $196.83 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.41.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Nordson had a return on equity of 19.31% and a net margin of 16.93%. On average, equities research analysts expect that Nordson Co. will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. Nordson’s payout ratio is 39.69%.

Insider Activity

In other news, EVP Stephen Lovass sold 1,299 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the transaction, the executive vice president now directly owns 7,347 shares of the company’s stock, valued at $1,519,286.13. The trade was a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,703 shares of company stock valued at $374,069 over the last three months. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NDSN has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Finally, DA Davidson dropped their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.25.

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.