Nissay Asset Management Corp Japan ADV Takes Position in Nordson Co. (NASDAQ:NDSN)

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Nissay Asset Management Corp Japan ADV purchased a new stake in shares of Nordson Co. (NASDAQ:NDSN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,479 shares of the industrial products company’s stock, valued at approximately $1,039,000.

Several other large investors have also made changes to their positions in NDSN. Harvest Fund Management Co. Ltd lifted its holdings in shares of Nordson by 110.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 198 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Nordson during the first quarter valued at $27,000. Group One Trading L.P. lifted its holdings in shares of Nordson by 2,000.0% during the first quarter. Group One Trading L.P. now owns 210 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Nordson by 57.0% during the first quarter. Signaturefd LLC now owns 394 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 143 shares in the last quarter. Finally, Fred Alger Management LLC increased its position in Nordson by 343.6% during the first quarter. Fred Alger Management LLC now owns 417 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 323 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

NDSN has been the subject of a number of research reports. Wells Fargo & Co upped their price objective on Nordson from $160.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Robert W. Baird upped their price objective on Nordson from $171.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Berenberg Bank initiated coverage on Nordson in a research report on Friday, June 5th. They set a “buy” rating for the company. Jefferies Financial Group assumed coverage on Nordson in a research report on Friday, April 17th. They set a “buy” rating and a $170.00 price objective for the company. Finally, DA Davidson upped their price target on Nordson from $200.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Nordson presently has an average rating of “Buy” and an average target price of $185.57.

In related news, EVP Gregory P. Merk sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $178.00, for a total transaction of $445,000.00. Following the completion of the transaction, the executive vice president now directly owns 65,043 shares of the company’s stock, valued at $11,577,654. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gregory A. Thaxton sold 17,200 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $199.51, for a total value of $3,431,572.00. Following the transaction, the chief financial officer now directly owns 54,065 shares of the company’s stock, valued at $10,786,508.15. The disclosure for this sale can be found here. Insiders have sold 42,846 shares of company stock valued at $8,100,357 in the last quarter. 2.01% of the stock is currently owned by company insiders.

Shares of NDSN opened at $193.63 on Friday. The company has a quick ratio of 2.31, a current ratio of 3.17 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $189.33 and a two-hundred day simple moving average of $166.33. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.77 and a beta of 1.22. Nordson Co. has a 52 week low of $96.46 and a 52 week high of $203.67.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, May 20th. The industrial products company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.32. Nordson had a return on equity of 21.32% and a net margin of 15.70%. The firm had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $496.38 million. During the same quarter last year, the business posted $1.54 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that Nordson Co. will post 5.38 earnings per share for the current fiscal year.

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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.

Further Reading: Market Timing

Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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