Retirement Systems of Alabama Boosts Position in Nordson Corporation (NDSN)
Retirement Systems of Alabama boosted its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,644 shares of the industrial products company’s stock after buying an additional 4,884 shares during the period. Retirement Systems of Alabama’s holdings in Nordson Corporation were worth $13,302,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NDSN. IFP Advisors Inc increased its position in shares of Nordson Corporation by 1.5% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock worth $171,000 after buying an additional 21 shares during the period. Toronto Dominion Bank increased its position in shares of Nordson Corporation by 1.1% in the first quarter. Toronto Dominion Bank now owns 3,488 shares of the industrial products company’s stock worth $429,000 after buying an additional 38 shares during the period. Capstone Asset Management Co. increased its position in shares of Nordson Corporation by 0.6% in the second quarter. Capstone Asset Management Co. now owns 6,586 shares of the industrial products company’s stock worth $799,000 after buying an additional 40 shares during the period. Albert D Mason Inc. increased its position in shares of Nordson Corporation by 0.9% in the first quarter. Albert D Mason Inc. now owns 6,498 shares of the industrial products company’s stock worth $798,000 after buying an additional 60 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Nordson Corporation by 0.4% in the first quarter. Pictet Asset Management Ltd. now owns 22,225 shares of the industrial products company’s stock worth $2,730,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 65.92% of the company’s stock.
Shares of Nordson Corporation (NASDAQ NDSN) opened at 128.42 on Thursday. Nordson Corporation has a 52 week low of $89.87 and a 52 week high of $131.49. The firm has a 50-day moving average price of $123.52 and a 200-day moving average price of $121.84. The firm has a market cap of $7.40 billion, a PE ratio of 27.07 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last announced its earnings results on Monday, May 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. Nordson Corporation had a return on equity of 33.39% and a net margin of 14.43%. The firm had revenue of $496.14 million during the quarter, compared to analyst estimates of $470.12 million. During the same quarter in the prior year, the company earned $1.23 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Nordson Corporation will post $5.40 earnings per share for the current year.
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A number of brokerages have recently issued reports on NDSN. Zacks Investment Research downgraded Nordson Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Wells Fargo & Company restated a “market perform” rating and set a $130.00 price objective (up from $122.00) on shares of Nordson Corporation in a research report on Thursday, May 25th. BidaskClub upgraded Nordson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Wellington Shields raised Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Friday, June 2nd. Finally, FBR & Co reaffirmed an “outperform” rating on shares of Nordson Corporation in a research note on Tuesday, July 11th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $115.50.
About Nordson Corporation
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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