Nordson Co. (NDSN) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its stake in Nordson Co. (NASDAQ:NDSN) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,100 shares of the industrial products company’s stock after selling 2,400 shares during the period. Westpac Banking Corp’s holdings in Nordson were worth $5,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NDSN. American Century Companies Inc. increased its stake in Nordson by 57.0% in the third quarter. American Century Companies Inc. now owns 576,361 shares of the industrial products company’s stock valued at $80,057,000 after purchasing an additional 209,141 shares in the last quarter. Schroder Investment Management Group increased its stake in Nordson by 30.9% in the second quarter. Schroder Investment Management Group now owns 615,526 shares of the industrial products company’s stock valued at $56,047,000 after purchasing an additional 145,187 shares in the last quarter. BlackRock Inc. increased its stake in Nordson by 2.7% in the third quarter. BlackRock Inc. now owns 4,639,617 shares of the industrial products company’s stock valued at $644,443,000 after purchasing an additional 121,090 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Nordson by 45.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 282,042 shares of the industrial products company’s stock valued at $36,218,000 after buying an additional 88,485 shares during the last quarter. Finally, Commonwealth Bank of Australia acquired a new position in shares of Nordson during the third quarter valued at about $10,255,000. 68.03% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Mary G. Puma sold 2,983 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total transaction of $433,847.52. Following the transaction, the director now directly owns 18,799 shares in the company, valued at $2,734,126.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.01% of the stock is currently owned by insiders.

NDSN has been the subject of a number of analyst reports. BidaskClub cut shares of Nordson from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. DA Davidson set a $160.00 price objective on shares of Nordson and gave the company a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Finally, ValuEngine upgraded shares of Nordson from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Nordson currently has a consensus rating of “Hold” and an average target price of $151.57.

Nordson stock opened at $120.41 on Friday. Nordson Co. has a fifty-two week low of $111.17 and a fifty-two week high of $151.84. The stock has a market cap of $6.86 billion, a P/E ratio of 22.42, a PEG ratio of 1.37 and a beta of 1.33. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.36 and a current ratio of 3.16.

Nordson declared that its board has authorized a stock repurchase program on Tuesday, September 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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