Nordson Corporation (NDSN) Shares Sold by Rhumbline Advisers
Rhumbline Advisers lowered its position in shares of Nordson Corporation (NASDAQ:NDSN) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,396 shares of the industrial products company’s stock after selling 57 shares during the period. Rhumbline Advisers owned about 0.20% of Nordson Corporation worth $13,636,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of NDSN. Financial Architects Inc boosted its stake in shares of Nordson Corporation by 12.1% in the second quarter. Financial Architects Inc now owns 926 shares of the industrial products company’s stock worth $112,000 after buying an additional 100 shares during the period. TrimTabs Asset Management LLC acquired a new stake in shares of Nordson Corporation during the first quarter worth approximately $126,000. IFP Advisors Inc boosted its stake in shares of Nordson Corporation by 44.8% in the first quarter. IFP Advisors Inc now owns 1,389 shares of the industrial products company’s stock worth $171,000 after buying an additional 430 shares during the period. Sapphire Star Partners LP acquired a new stake in shares of Nordson Corporation during the first quarter worth approximately $204,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Nordson Corporation during the first quarter worth approximately $235,000. 66.43% of the stock is currently owned by institutional investors and hedge funds.
Nordson Corporation (NDSN) opened at 124.13 on Monday. The company has a 50-day moving average of $124.86 and a 200-day moving average of $122.43. Nordson Corporation has a 52 week low of $90.14 and a 52 week high of $131.49. The company has a market cap of $7.15 billion, a PE ratio of 26.17 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last posted its earnings results on Monday, May 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $496.14 million for the quarter, compared to analyst estimates of $470.12 million. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts expect that Nordson Corporation will post $5.40 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, August 18th. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. Nordson Corporation’s payout ratio is 25.32%.
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NDSN has been the topic of a number of research reports. BidaskClub cut shares of Nordson Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Wednesday, April 26th. Wellington Shields upgraded shares of 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 target price (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Finally, FBR & Co restated an “outperform” rating on shares of Nordson Corporation in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus 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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