Tokio Marine Asset Management Co. Ltd. Grows Position in Nordson Co. (NASDAQ:NDSN)

Tokio Marine Asset Management Co. Ltd. grew its stake in Nordson Co. (NASDAQ:NDSN) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,604 shares of the industrial products company’s stock after acquiring an additional 291 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Nordson were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Nordson by 5,590.7% during the first quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock valued at $1,343,000 after acquiring an additional 4,808 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Nordson by 61.6% in the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock valued at $7,224,000 after buying an additional 11,875 shares in the last quarter. Cetera Investment Advisers lifted its stake in Nordson by 422.3% during the first quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock worth $3,947,000 after purchasing an additional 11,625 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Nordson by 300.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,026 shares of the industrial products company’s stock worth $702,000 after buying an additional 2,271 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in Nordson by 508.8% in the first quarter. UniSuper Management Pty Ltd now owns 4,128 shares of the industrial products company’s stock valued at $1,133,000 after acquiring an additional 3,450 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nordson

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the completion of the transaction, the executive vice president now directly owns 3,287 shares in the company, valued at approximately $862,081.49. The trade was a 6.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph P. Kelley sold 3,000 shares of the 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 directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Nordson Stock Performance

Shares of NDSN opened at $254.78 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $254.67 and a 200-day simple moving average of $246.88. Nordson Co. has a 52-week low of $222.18 and a 52-week high of $279.38. The company has a market capitalization of $14.57 billion, a PE ratio of 31.03, a P/E/G ratio of 1.92 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.08. The business had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $656.49 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.35 earnings per share. Equities research analysts predict that Nordson Co. will post 9.55 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. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.