Suntrust Banks Inc. Cuts Position in Nordson Co. (NDSN)

Suntrust Banks Inc. Cuts Position in Nordson Co. (NDSN)

A number of other hedge funds have also bought and sold shares of NDSN. Mcdaniel Terry & Co. boosted its position in shares of Nordson by 0.5% in the third quarter. Mcdaniel Terry & Co. now owns 281,571 shares of the industrial products company’s stock valued at $28,053,000 after buying an additional 1,480 shares during the period. Tiverton Asset Management LLC boosted its position in shares of Nordson by 45.3% in the third quarter. Tiverton Asset Management LLC now owns 154,791 shares of the industrial products company’s stock valued at $15,422,000 after buying an additional 48,235 shares during the period. KCG Holdings Inc. boosted its position in shares of Nordson by 3.6% in the third quarter. KCG Holdings Inc. now owns 6,805 shares of the industrial products company’s stock valued at $678,000 after buying an additional 235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nordson by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,884 shares of the industrial products company’s stock valued at $188,000 after buying an additional 209 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of Nordson during the third quarter valued at $996,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Suntrust Banks Inc. reduced its stake in shares of Nordson Co. (NASDAQ:NDSN) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 3,008 shares of the industrial products company’s stock after selling 19 shares during the period. Suntrust Banks Inc.’s holdings in Nordson were worth $369,000 at the end of the most recent quarter.

Shares of Nordson Co. (NASDAQ:NDSN) opened at 118.68 on Wednesday. The company has a market capitalization of $6.84 billion, a PE ratio of 25.02 and a beta of 1.26. Nordson Co. has a 1-year low of $78.16 and a 1-year high of $131.49. The stock’s 50 day moving average price is $124.96 and its 200-day moving average price is $118.13.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Nordson had a return on equity of 35.20% and a net margin of 15.03%. The company had revenue of $496.14 million for the quarter, compared to analysts’ expectations of $470.12 million. During the same period last year, the firm posted $1.23 earnings per share. Nordson’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts predict that Nordson Co. will post $5.40 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Tuesday, May 30th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, May 25th. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. Nordson’s dividend payout ratio (DPR) is presently 22.88%.

NDSN has been the topic of several recent analyst reports. Zacks Investment Research upgraded Nordson from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 19th. Barrington Research raised their price objective on Nordson from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. KeyCorp upgraded Nordson from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research note on Tuesday, February 14th. Finally, Seaport Global Securities upgraded Nordson from an “accumulate” rating to a “buy” rating in a research note on Wednesday, February 1st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $114.09.

In related news, insider John J. Keane sold 23,600 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $123.88, for a total transaction of $2,923,568.00. Following the sale, the insider now directly owns 81,086 shares of the company’s stock, valued at $10,044,933.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.15% of the company’s stock.

Nordson Company Profile

Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:NDSN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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