September 8, 2023
Sei Investments Co. Increases Stake in Nordson Co.
Investment management firm Sei Investments Co. recently announced that it has raised its position in shares of Nordson Co. The company increased its stake by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). With this acquisition, Sei Investments Co. now owns approximately 62,840 shares of Nordson’s stock, representing about 0.11% of the company’s total worth, which amounts to $13,967,000 as of its latest SEC filing.
Nordson is an industrial products company listed on the NASDAQ stock exchange under the ticker symbol NDSN. It specializes in precision dispensing equipment for applying adhesives, coatings, sealants, and other materials used in various industries such as electronics, automotive, and healthcare.
The recent increase in ownership by Sei Investments Co. reflects their confidence in Nordson’s performance and growth potential. Furthermore, it indicates a positive outlook towards the industrial products sector as a whole.
In line with this news, it is worth noting that Nordson recently released its quarterly earnings report for the period ending August 22nd. According to the report, the company reported earnings per share (EPS) of $2.35 for the quarter – surpassing analysts’ consensus estimates by $0.03 per share.
Additionally, Nordson achieved a return on equity (ROE) of 21.17% and a net margin of 19.32%. However, despite these positive financial indicators, the firm experienced a slight decline in revenue compared to expectations from analysts. The company recorded revenue totaling $648.68 million for the quarter compared to analysts’ anticipated figure of $664.94 million. This represents a 2% decrease from the same quarter last year.
Sell-side analysts have forecasted that for the current year, Nordson Co. will post an EPS of 8.97. This prediction suggests that the company will continue to demonstrate steady growth and profitability.
Sei Investments Co.’s decision to expand its stake in Nordson demonstrates its confidence in the company’s financial performance and future prospects. It is a notable development in the investment landscape of the industrial products sector and reflects favorable market sentiment towards Nordson.
As with any investment, it is important for stakeholders to conduct their own analysis and consider various factors before making decisions. Nevertheless, this news presents an interesting development for individuals following the progress of Nordson Co., Sei Investments Co., and the wider industrial products sector.
Updated on: 03/03/2024
Debt to equity ratio: Neutral
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
12:00 PM (UTC)
Date:21 January, 2024
|Analyst / firm
Hedge Funds Increase Positions in Industrial Products Company Nordson Co., Analysts Remain Bullish on Future Growth
In recent months, several hedge funds have made significant changes to their positions in Nordson Co. (NDSN), a leading industrial products company. One notable example is Morgan Stanley, which increased its stake in the company by 435.1% during the fourth quarter. This resulted in Morgan Stanley now owning 1,275,693 shares of Nordson’s stock, valued at $303,258,000 after purchasing an additional 1,037,295 shares.
Vanguard Group Inc. also increased its position in Nordson by 16.5% during the first quarter. The firm now holds 5,997,575 shares of the company’s stock, valued at $1,361,928,000 after acquiring an additional 850,479 shares. Norges Bank is another investor that acquired a new stake in Nordson during the fourth quarter worth $176,0786,000.
Furthermore, ProShare Advisors LLC raised its stake in Nordson significantly by 9,439.6% during the first quarter. As a result of this increase, they now hold 710,034 shares of the company’s stock worth $157,8120;00.
Goldman Sachs Group Inc., meanwhile, experienced a 258.7% boost in its holdings of Nordson Co.’s stock during the second quarter. They currently possess 878,t782 shares worth $1779041000
All these institutional investors collectively own approximately70.88% of the company’s total stock.
Considering these developments from hedge funds and other major investors over recent quarters can provide valuable insights for shareholders or potential investors who are evaluating their own positions or considering investment opportunities within this industry sector.
Analysts from various brokerages have also weighed in on NDSN recently with their evaluation of this company’s performance and outlook for future growth prospects being favorable overall.When it comes to Target Price there has been an upward trend lately with shares of Nordson Co. Stock being target priced at $270.00 according to a research report released on June 22 by KeyCorp. Additionally, in a report published on August 17, StockNews.com initiated coverage of Nordson with a “buy” rating for their readers.The analyst from Wells Fargo & Company raised the price target from $270.00 to $290.00 which shows confidence in the company’s future growth prospects.Baird, in a research note dated August 23,lifted the Target Price to $253 and also rated the stock as an “outperform.”
Recently, Director Mary G. Puma sold 2,099 shares of Nordson Co.’s stock in a transaction completed on Friday, July 14th. The average selling price was $245.92 per share, resulting in a total value of $516,186.08.The director currently holds 16,835 shares valued at approximately $4,140063.
As for today’s trading session,Nordson Co.stocks opened at $23386 with both its 50-day simple moving average, positioned at$24366 and its200 daysimple moving average standingat$22857.
Nordson Co.’s market capitalization has reached$13;33 billion,and it currently has a price-to-earnings ratioof26;94,a PEG ratio of2;05,and abetaof0;94.Additionally,the company maintainsa current ratio of2:23 along witha quick ratio of1:39.Its debt-to-equity ratio stands at0:29.
In conclusion,the recent changes made by various hedge funds and other institutional investors to their positions in Nordson Co.,as well as the positive evaluations provided by brokerage analysts,suggest that this industrial products companycontinues to be regarded as a promising investment optionwithin its industry sector.These developments are worth considering for individuals who currently hold positions in Nordson Co. stock and for potential investors who are exploring new opportunities within the industrial products market.