IFP Advisors Inc raised its stake in Nordson Corporation (NASDAQ:NDSN) by 1.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,410 shares of the industrial products company’s stock after buying an additional 21 shares during the period. IFP Advisors Inc’s holdings in Nordson Corporation were worth $171,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of NDSN. Sei Investments Co. boosted its stake in shares of Nordson Corporation by 147.1% in the second quarter. Sei Investments Co. now owns 62,171 shares of the industrial products company’s stock valued at $7,542,000 after buying an additional 37,009 shares during the period. Texas Permanent School Fund boosted its stake in shares of Nordson Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 39,135 shares of the industrial products company’s stock valued at $4,748,000 after buying an additional 387 shares during the period. World Asset Management Inc boosted its stake in shares of Nordson Corporation by 6.8% in the second quarter. World Asset Management Inc now owns 4,124 shares of the industrial products company’s stock valued at $500,000 after buying an additional 263 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Nordson Corporation by 10.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,903 shares of the industrial products company’s stock valued at $2,900,000 after buying an additional 2,179 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Nordson Corporation during the second quarter valued at approximately $6,672,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Nordson Corporation (NDSN) opened at 111.50 on Wednesday. The stock has a market cap of $6.43 billion, a PE ratio of 23.50 and a beta of 1.35. Nordson Corporation has a 1-year low of $94.56 and a 1-year high of $131.49. The firm’s 50-day moving average price is $124.97 and its 200 day moving average price is $122.65.
Nordson Corporation (NASDAQ:NDSN) last announced its earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.12. The business had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. Nordson Corporation had a return on equity of 33.39% and a net margin of 14.43%. Nordson Corporation’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 EPS. Equities research analysts expect that Nordson Corporation will post $5.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.30 per share. This is an increase from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, August 18th. Nordson Corporation’s payout ratio is currently 25.32%.
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Several analysts have issued reports on the company. BidaskClub downgraded Nordson Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. FBR & Co restated an “outperform” rating on shares of Nordson Corporation in a report on Tuesday, July 11th. Wellington Shields upgraded Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Friday, June 2nd. Wells Fargo & Company restated a “market perform” rating and set a $130.00 price objective (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Finally, Zacks Investment Research downgraded Nordson Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target 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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