TimesSquare Capital Management LLC Sells 1,460 Shares of Nordson Co. (NASDAQ:NDSN)

TimesSquare Capital Management LLC reduced its holdings in Nordson Co. (NASDAQ:NDSN) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 113,625 shares of the industrial products company’s stock after selling 1,460 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Nordson were worth $29,841,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Nordson by 5,590.7% during the 1st quarter. Bessemer Group Inc. now owns 4,894 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 4,808 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Nordson by 61.6% during the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after acquiring an additional 11,875 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Nordson by 422.3% in the 1st quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock valued at $3,947,000 after purchasing an additional 11,625 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Nordson by 85.3% during the 1st quarter. Mizuho Markets Americas LLC now owns 39,698 shares of the industrial products company’s stock valued at $10,899,000 after purchasing an additional 18,277 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Nordson by 300.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,026 shares of the industrial products company’s stock worth $702,000 after purchasing an additional 2,271 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Nordson Stock Up 0.3 %

Shares of Nordson stock opened at $261.44 on Friday. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 1.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The company’s 50 day moving average price is $253.84 and its 200-day moving average price is $246.96. Nordson Co. has a 52-week low of $220.69 and a 52-week high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.33 by $0.08. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $656.49 million. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 earnings per share. Equities research analysts forecast that Nordson Co. will post 9.55 EPS for the current year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $0.78 dividend. This is a positive change from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio (DPR) is currently 38.00%.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Nordson currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.00.

Insider Activity

In related news, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the completion of the sale, the executive vice president now owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

Nordson 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.