Boston Financial Mangement LLC Trims Position in Nordson Co. (NASDAQ:NDSN)

Boston Financial Mangement LLC decreased its position in shares of Nordson Co. (NASDAQ:NDSN) by 6.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,023 shares of the industrial products company’s stock after selling 3,640 shares during the quarter. Boston Financial Mangement LLC’s holdings in Nordson were worth $14,976,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Klein Pavlis & Peasley Financial Inc. grew its position in shares of Nordson by 2.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,252 shares of the industrial products company’s stock worth $854,000 after purchasing an additional 71 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Nordson by 3.6% in the third quarter. State of Alaska Department of Revenue now owns 12,259 shares of the industrial products company’s stock worth $3,218,000 after buying an additional 425 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Nordson during the third quarter worth $217,000. GHP Investment Advisors Inc. grew its stake in Nordson by 3.2% during the third quarter. GHP Investment Advisors Inc. now owns 61,282 shares of the industrial products company’s stock valued at $16,094,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Forsta AP Fonden increased its holdings in Nordson by 9.5% in the 3rd quarter. Forsta AP Fonden now owns 10,400 shares of the industrial products company’s stock valued at $2,731,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Performance

Nordson stock opened at $250.37 on Tuesday. The company’s 50-day moving average price is $253.79 and its 200-day moving average price is $247.35. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. Nordson Co. has a twelve month low of $208.91 and a twelve month high of $279.38. The company has a market cap of $14.32 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released 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 firm had revenue of $661.60 million for 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 company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 EPS. On average, equities research analysts forecast that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 27th. This is a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.25%. Nordson’s payout ratio is currently 38.00%.

Insider Buying and Selling

In other news, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.