Principal Financial Group Inc. boosted its stake in Nordson Corporation (NASDAQ:NDSN) by 93.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 773,058 shares of the industrial products company’s stock after buying an additional 374,363 shares during the period. Principal Financial Group Inc. owned 1.34% of Nordson Corporation worth $93,786,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nordson Corporation by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,084 shares of the industrial products company’s stock valued at $253,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. increased its position in Nordson Corporation by 16.5% in the second quarter. Pacer Advisors Inc. now owns 7,374 shares of the industrial products company’s stock valued at $895,000 after buying an additional 1,047 shares during the last quarter. Utah Retirement Systems increased its position in Nordson Corporation by 1.0% in the second quarter. Utah Retirement Systems now owns 10,512 shares of the industrial products company’s stock valued at $1,275,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its position in Nordson Corporation by 22.6% in the second quarter. Victory Capital Management Inc. now owns 11,073 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 2,039 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in Nordson Corporation by 22.5% in the second quarter. Virginia Retirement Systems ET AL now owns 19,600 shares of the industrial products company’s stock valued at $2,378,000 after buying an additional 3,600 shares during the last quarter. Institutional investors own 66.04% of the company’s stock.

Shares of Nordson Corporation (NDSN) opened at 110.27 on Friday. The firm’s 50-day moving average price is $121.88 and its 200 day moving average price is $122.17. The company has a market cap of $6.36 billion, a PE ratio of 21.93 and a beta of 1.35. Nordson Corporation has a 12 month low of $94.56 and a 12 month high of $131.49.

Nordson Corporation (NASDAQ:NDSN) last posted its quarterly earnings data on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The business had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. During the same quarter in the prior year, the company earned $1.67 earnings per share. The company’s revenue was up 20.3% on a year-over-year basis. Equities research analysts anticipate that Nordson Corporation will post $5.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be given 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 dividend yield of 1.09%. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. Nordson Corporation’s dividend payout ratio is currently 23.90%.

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Several research firms have commented on NDSN. BidaskClub downgraded Nordson Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Robert W. Baird restated a “hold” rating and set a $128.00 price objective on shares of Nordson Corporation in a report on Thursday, August 24th. Zacks Investment Research downgraded Nordson Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Gabelli raised Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, August 23rd. Finally, FBR & Co reaffirmed an “outperform” rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $134.33.

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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Institutional Ownership by Quarter for Nordson Corporation (NASDAQ:NDSN)

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