Nordson Co. (NASDAQ:NDSN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in Nordson Co. (NASDAQ:NDSN) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,879 shares of the industrial products company’s stock after selling 646 shares during the period. Corebridge Financial Inc.’s holdings in Nordson were worth $2,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDSN. Nomura Asset Management Co. Ltd. boosted its stake in shares of Nordson by 13.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock valued at $45,533,000 after buying an additional 20,217 shares during the period. JPMorgan Chase & Co. lifted its stake in Nordson by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after acquiring an additional 48,720 shares during the last quarter. Holocene Advisors LP lifted its stake in Nordson by 113.8% in the third quarter. Holocene Advisors LP now owns 29,170 shares of the industrial products company’s stock worth $7,661,000 after acquiring an additional 15,524 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in Nordson by 47.5% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock worth $4,117,000 after acquiring an additional 5,046 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Nordson in the 4th quarter valued at approximately $4,553,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NDSN shares. Robert W. Baird reiterated a “neutral” rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Loop Capital raised Nordson from a “hold” rating to a “buy” rating and upped their price objective for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. KeyCorp raised Nordson from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research report on Tuesday, March 4th. DA Davidson lowered their price target on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.20.

Nordson Price Performance

NDSN stock opened at $201.72 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $11.48 billion, a P/E ratio of 25.66, a PEG ratio of 1.65 and a beta of 0.92. The business has a 50 day simple moving average of $212.73 and a 200-day simple moving average of $231.79. Nordson Co. has a twelve month low of $196.83 and a twelve month high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The business had revenue of $615.42 million for the quarter, compared to analyst estimates of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. As a group, equities analysts anticipate that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 20th. Nordson’s dividend payout ratio is presently 39.69%.

Insiders Place Their Bets

In other news, EVP Stephen Lovass sold 1,299 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total transaction of $268,620.21. Following the completion of the sale, the executive vice president now owns 7,347 shares in the company, valued at $1,519,286.13. This represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by insiders.

Nordson Company Profile

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.