Condor Capital Management Raises Stake in Nordson Co. (NDSN)

Condor Capital Management grew its position in Nordson Co. (NASDAQ:NDSN) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,239 shares of the industrial products company’s stock after buying an additional 289 shares during the quarter. Condor Capital Management’s holdings in Nordson were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. purchased a new stake in shares of Nordson in the 1st quarter valued at about $2,114,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Nordson in the 1st quarter valued at about $334,000. Janus Henderson Group PLC lifted its holdings in shares of Nordson by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,223,886 shares of the industrial products company’s stock valued at $162,189,000 after purchasing an additional 17,044 shares during the last quarter. Opus Capital Group LLC lifted its holdings in shares of Nordson by 38.8% in the 1st quarter. Opus Capital Group LLC now owns 6,242 shares of the industrial products company’s stock valued at $828,000 after purchasing an additional 1,745 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of Nordson by 13.9% in the 1st quarter. World Asset Management Inc now owns 3,481 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 424 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

NDSN opened at $147.62 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.86 and a beta of 1.14. Nordson Co. has a 52 week low of $110.16 and a 52 week high of $149.23.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.21). The company had revenue of $497.91 million for the quarter, compared to analysts’ expectations of $497.99 million. Nordson had a net margin of 14.59% and a return on equity of 23.01%. The firm’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.35 earnings per share. On average, equities research analysts expect that Nordson Co. will post 6.34 earnings per share for the current fiscal year.

In other Nordson news, insider John J. Keane sold 43,900 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $132.69, for a total transaction of $5,825,091.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shelly Peet sold 11,600 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $133.16, for a total value of $1,544,656.00. Following the sale, the insider now directly owns 29,296 shares of the company’s stock, valued at $3,901,055.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,560 shares of company stock valued at $9,831,639. 1.97% of the stock is owned by company insiders.

Several analysts have recently weighed in on the company. BidaskClub raised Nordson from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised Nordson from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Oppenheimer boosted their target price on Nordson from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, April 23rd. Finally, ValuEngine raised Nordson from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $143.83.

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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. 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.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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