JPMorgan Chase & Co. cut its position in Nordson Corp. (NASDAQ:NDSN) by 48.3% during the second quarter, Holdings Channel reports. The firm owned 45,131 shares of the company’s stock after selling 42,198 shares during the period. JPMorgan Chase & Co. owned 0.08% of Nordson Corp. worth $3,773,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NDSN. Ameriprise Financial Inc. increased its position in Nordson Corp. by 14.7% in the second quarter. Ameriprise Financial Inc. now owns 190,595 shares of the company’s stock worth $15,935,000 after buying an additional 24,400 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Nordson Corp. during the second quarter valued at $865,000. Turner Investments L.P. bought a new position in Nordson Corp. during the second quarter valued at $334,000. Janney Montgomery Scott LLC bought a new position in Nordson Corp. during the second quarter valued at $666,000. Finally, Airain ltd bought a new position in Nordson Corp. during the second quarter valued at $1,779,000. Hedge funds and other institutional investors own 64.59% of the company’s stock.
Shares of Nordson Corp. (NASDAQ:NDSN) traded down 0.14% during midday trading on Monday, hitting $95.97. The stock had a trading volume of 7,848 shares. The firm has a 50 day moving average price of $98.42 and a 200-day moving average price of $87.29. The stock has a market cap of $5.49 billion, a PE ratio of 22.62 and a beta of 1.33. Nordson Corp. has a 52-week low of $51.89 and a 52-week high of $102.20.
Nordson Corp. (NASDAQ:NDSN) last released its earnings results on Monday, August 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.14. Nordson Corp. had a return on equity of 34.16% and a net margin of 14.07%. The firm had revenue of $489.89 million for the quarter. During the same period in the previous year, the company earned $1.16 earnings per share. Nordson Corp.’s revenue was up 5.9% on a year-over-year basis. Equities analysts predict that Nordson Corp. will post $4.51 EPS for the current fiscal year.
NDSN has been the topic of several analyst reports. Zacks Investment Research downgraded Nordson Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. RBC Capital Markets reiterated a “sector perform” rating and set a $106.00 target price (up from $98.00) on shares of Nordson Corp. in a research report on Thursday, August 25th. Royal Bank Of Canada lowered their target price on Nordson Corp. from $106.00 to $98.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 24th. Wunderlich lifted their target price on Nordson Corp. from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Finally, Barrington Research lifted their target price on Nordson Corp. from $102.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Nordson Corp. currently has a consensus rating of “Buy” and a consensus target price of $103.90.
In other Nordson Corp. news, insider Gregory P. Merk sold 16,600 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $100.30, for a total transaction of $1,664,980.00. Following the sale, the insider now directly owns 45,812 shares of the company’s stock, valued at approximately $4,594,943.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Douglas C. Bloomfield sold 3,532 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $99.00, for a total value of $349,668.00. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.
About Nordson Corp.
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