M&T Bank Corp Sells 466 Shares of Nordson Co. (NASDAQ:NDSN)

M&T Bank Corp reduced its stake in Nordson Co. (NASDAQ:NDSN) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,196 shares of the industrial products company’s stock after selling 466 shares during the quarter. M&T Bank Corp’s holdings in Nordson were worth $2,429,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Nordson by 4.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,235,928 shares of the industrial products company’s stock worth $498,992,000 after purchasing an additional 88,095 shares during the period. Morgan Stanley raised its holdings in Nordson by 9.2% during the third quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company’s stock valued at $310,534,000 after acquiring an additional 117,337 shares during the period. Lazard Asset Management LLC raised its holdings in Nordson by 53.4% during the third quarter. Lazard Asset Management LLC now owns 791,037 shares of the industrial products company’s stock valued at $176,534,000 after acquiring an additional 275,240 shares during the period. Invesco Ltd. raised its holdings in Nordson by 9.0% during the third quarter. Invesco Ltd. now owns 781,549 shares of the industrial products company’s stock valued at $174,418,000 after acquiring an additional 64,707 shares during the period. Finally, FMR LLC raised its holdings in Nordson by 4.3% during the third quarter. FMR LLC now owns 546,738 shares of the industrial products company’s stock valued at $122,015,000 after acquiring an additional 22,685 shares during the period. 72.11% of the stock is owned by institutional investors.

Nordson Trading Down 0.4 %

NDSN opened at $271.00 on Thursday. The firm has a market cap of $15.50 billion, a P/E ratio of 31.70, a P/E/G ratio of 2.00 and a beta of 1.00. Nordson Co. has a 12 month low of $208.90 and a 12 month high of $278.00. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $266.06 and a 200 day moving average of $252.78.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The business had revenue of $633.20 million during the quarter, compared to analyst estimates of $630.77 million. During the same quarter in the previous year, the business earned $1.95 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Analysts Set New Price Targets

NDSN has been the topic of a number of recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. DA Davidson raised their price target on Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company raised their price target on Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $278.00.

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.