Nordson Corporation (NDSN) Position Lowered by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its position in shares of Nordson Corporation (NASDAQ:NDSN) by 39.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,156 shares of the industrial products company’s stock after selling 16,638 shares during the period. Russell Investments Group Ltd.’s holdings in Nordson Corporation were worth $3,052,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. FMR LLC purchased a new position in shares of Nordson Corporation during the first quarter worth $44,110,000. Sei Investments Co. boosted its position in shares of Nordson Corporation by 5.9% in the first quarter. Sei Investments Co. now owns 25,162 shares of the industrial products company’s stock worth $3,091,000 after buying an additional 1,407 shares during the last quarter. Motley Fool Wealth Management LLC purchased a new position in shares of Nordson Corporation during the first quarter worth $252,000. Vanguard Group Inc. boosted its position 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 worth $540,018,000 after buying an additional 251,861 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Nordson Corporation by 6.4% in the first quarter. Bank of Montreal Can now owns 12,633 shares of the industrial products company’s stock worth $1,553,000 after buying an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.
Shares of Nordson Corporation (NASDAQ:NDSN) traded down 0.06% on Wednesday, hitting $108.25. The company’s stock had a trading volume of 93,685 shares. The stock has a market capitalization of $6.25 billion, a P/E ratio of 21.53 and a beta of 1.35. Nordson Corporation has a 52 week low of $94.56 and a 52 week high of $131.49. The stock’s 50 day moving average price is $123.65 and its 200 day moving average price is $122.38.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings data on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. The company had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. Nordson Corporation’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 EPS. On average, analysts forecast that Nordson Corporation will post $5.32 earnings per share for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Friday, August 18th. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.11%. Nordson Corporation’s payout ratio is currently 23.90%.
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A number of research analysts recently weighed in on NDSN shares. Robert W. Baird reiterated a “hold” rating and issued a $128.00 target price on shares of Nordson Corporation in a report on Thursday, August 24th. BidaskClub cut Nordson Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. FBR & Co reiterated 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. Finally, Zacks Investment Research cut Nordson Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $134.33.
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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