Truist Financial Corp Sells 5,617 Shares of Nordson Co. (NASDAQ:NDSN)

Truist Financial Corp trimmed its holdings in shares of Nordson Co. (NASDAQ:NDSN) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,530 shares of the industrial products company’s stock after selling 5,617 shares during the quarter. Truist Financial Corp owned 0.08% of Nordson worth $9,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Nordson by 13.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock valued at $45,533,000 after acquiring an additional 20,217 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Nordson by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock valued at $135,138,000 after acquiring an additional 48,720 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Nordson by 23.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after acquiring an additional 61,430 shares during the last quarter. Holocene Advisors LP increased its position in shares of Nordson by 113.8% during the third quarter. Holocene Advisors LP now owns 29,170 shares of the industrial products company’s stock valued at $7,661,000 after acquiring an additional 15,524 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in shares of Nordson by 47.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock valued at $4,117,000 after acquiring an additional 5,046 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NDSN shares. Loop Capital raised Nordson from a “hold” rating to a “buy” rating and increased their price target for the company from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Baird R W downgraded Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson decreased their target price on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Robert W. Baird reissued a “neutral” rating and issued a $237.00 target price (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.25.

Insider Transactions at Nordson

In related news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction 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 of the company’s stock, valued at approximately $1,519,286.13. This trade represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,703 shares of company stock valued at $374,069 over the last three months. Company insiders own 0.80% of the company’s stock.

Nordson Price Performance

Nordson stock opened at $215.44 on Friday. Nordson Co. has a one year low of $196.83 and a one year high of $279.38. The business has a fifty day moving average price of $213.85 and a 200-day moving average price of $238.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.41 and a quick ratio of 1.51. The firm has a market capitalization of $12.30 billion, a P/E ratio of 27.41, a PEG ratio of 1.64 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). Nordson had a return on equity of 19.31% and a net margin of 16.93%. The company had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. As a group, equities research analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 2nd. Nordson’s payout ratio is currently 39.69%.

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.