Arizona State Retirement System Purchases 300 Shares of Nordson Corporation (NDSN)
Arizona State Retirement System boosted its stake in Nordson Corporation (NASDAQ:NDSN) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,600 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Nordson Corporation were worth $2,742,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of NDSN. BlackRock Inc. boosted its stake in shares of Nordson Corporation by 6,982.3% in the first quarter. BlackRock Inc. now owns 4,380,454 shares of the industrial products company’s stock valued at $538,093,000 after buying an additional 4,318,603 shares during the period. FMR LLC purchased a new stake in shares of Nordson Corporation during the first quarter valued at about $44,110,000. Vanguard Group Inc. boosted its stake in shares of Nordson Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,396,104 shares of the industrial products company’s stock valued at $540,018,000 after buying an additional 251,861 shares during the period. Columbus Circle Investors purchased a new stake in shares of Nordson Corporation during the first quarter valued at about $10,105,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Nordson Corporation by 73.2% in the first quarter. OppenheimerFunds Inc. now owns 174,311 shares of the industrial products company’s stock valued at $21,413,000 after buying an additional 73,689 shares during the period. 66.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nordson Corporation (NDSN) opened at 124.13 on Friday. Nordson Corporation has a 12-month low of $90.14 and a 12-month high of $131.49. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 26.17 and a beta of 1.35. The company’s 50-day moving average price is $124.86 and its 200 day moving average price is $122.43.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The company had revenue of $496.14 million for the quarter, compared to analyst estimates of $470.12 million. Nordson Corporation had a return on equity of 33.39% and a net margin of 14.43%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, equities analysts predict that Nordson Corporation will post $5.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. Nordson Corporation’s payout ratio is 22.78%.
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Several analysts have recently issued reports on NDSN shares. Zacks Investment Research cut Nordson Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Wellington Shields upgraded Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Friday, June 2nd. FBR & Co restated an “outperform” rating on shares of Nordson Corporation in a report on Tuesday, July 11th. BidaskClub upgraded Nordson Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $130.00 price target (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $115.50.
Nordson Corporation Company Profile
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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