Huntington National Bank Increases Stake in Nordson Co. (NASDAQ:NDSN)

Huntington National Bank increased its position in shares of Nordson Co. (NASDAQ:NDSN) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,662 shares of the industrial products company’s stock after buying an additional 85 shares during the period. Huntington National Bank’s holdings in Nordson were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NDSN. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Nordson in the 2nd quarter valued at approximately $27,000. Tortoise Investment Management LLC increased its holdings in 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 last quarter. Blue Trust Inc. raised its stake in Nordson by 130.0% in the third quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after buying an additional 91 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Nordson during the 2nd quarter worth about $46,000. Finally, UMB Bank n.a. boosted 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 worth $46,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Insider Activity

In other news, EVP Jennifer L. Mcdonough sold 225 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at approximately $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph P. Kelley sold 3,000 shares of the firm’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 transaction, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Nordson Price Performance

Shares of NDSN opened at $254.78 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52. Nordson Co. has a 1-year low of $222.18 and a 1-year high of $279.38. The stock has a market cap of $14.57 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.90. The firm has a fifty day moving average price of $254.67 and a 200 day moving average price of $246.88.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.08. The business had revenue of $661.60 million during 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%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.35 EPS. As a group, sell-side analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Wall Street Analyst Weigh In

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

Nordson Company 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.