TimesSquare Capital Management LLC Cuts Holdings in Nordson Co. (NASDAQ:NDSN)

TimesSquare Capital Management LLC trimmed its position in Nordson Co. (NASDAQ:NDSN) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113,625 shares of the industrial products company’s stock after selling 1,460 shares during the period. TimesSquare Capital Management LLC owned about 0.20% of Nordson worth $29,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Finance LLC increased its position in shares of Nordson by 5.8% during the first quarter. Empirical Finance LLC now owns 1,226 shares of the industrial products company’s stock valued at $337,000 after acquiring an additional 67 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Nordson by 6.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,332 shares of the industrial products company’s stock worth $1,738,000 after purchasing an additional 405 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Nordson by 80.8% in the 1st quarter. SG Americas Securities LLC now owns 5,680 shares of the industrial products company’s stock worth $1,559,000 after buying an additional 2,539 shares during the last quarter. Swiss National Bank grew its position in Nordson by 1.1% during the first quarter. Swiss National Bank now owns 162,200 shares of the industrial products company’s stock valued at $44,530,000 after buying an additional 1,800 shares during the period. Finally, Inspire Investing LLC increased its holdings in Nordson by 10.0% during the first quarter. Inspire Investing LLC now owns 7,607 shares of the industrial products company’s stock worth $2,088,000 after buying an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 0.3 %

Shares of NASDAQ NDSN opened at $261.44 on Friday. The business’s fifty day moving average price is $253.84 and its 200-day moving average price is $246.96. Nordson Co. has a one year low of $220.69 and a one year high of $279.38. The stock has a market capitalization of $14.95 billion, a PE ratio of 31.84, a P/E/G ratio of 1.96 and a beta of 0.90. 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 (NASDAQ:NDSN) last issued its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The firm had revenue of $661.60 million during the quarter, compared to analyst estimates of $656.49 million. During the same quarter last year, the business earned $2.35 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 annualized dividend and a dividend yield of 1.19%. This is an increase from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio is currently 38.00%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their target price on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $299.00.

Insider Transactions at Nordson

In related news, EVP Joseph P. Kelley sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the sale, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.