Capstone Asset Management Co. boosted its stake in Nordson Corporation (NASDAQ:NDSN) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,586 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Capstone Asset Management Co.’s holdings in Nordson Corporation were worth $799,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Quadrature Capital Ltd raised its stake in shares of Nordson Corporation by 345.0% in the fourth quarter. Quadrature Capital Ltd now owns 17,826 shares of the industrial products company’s stock valued at $1,997,000 after buying an additional 13,820 shares in the last quarter. USA Financial Portformulas Corp raised its stake in shares of Nordson Corporation by 173.7% in the fourth quarter. USA Financial Portformulas Corp now owns 7,958 shares of the industrial products company’s stock valued at $892,000 after buying an additional 5,050 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Nordson Corporation by 16.7% in the fourth quarter. Teachers Advisors LLC now owns 67,462 shares of the industrial products company’s stock valued at $7,559,000 after buying an additional 9,659 shares in the last quarter. Bank of Montreal Can raised its stake 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 valued at $1,553,000 after buying an additional 765 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Nordson Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the industrial products company’s stock valued at $1,658,000 after buying an additional 300 shares in the last quarter. 66.43% of the stock is currently owned by institutional investors.
Nordson Corporation (NASDAQ NDSN) traded down 0.85% during midday trading on Friday, reaching $124.13. The company had a trading volume of 261,181 shares. Nordson Corporation has a 12-month low of $90.14 and a 12-month high of $131.49. The stock has a 50-day moving average price of $124.86 and a 200 day moving average price of $122.43. The company has a market capitalization of $7.15 billion, a PE ratio of 26.17 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last issued its earnings results on Monday, May 22nd. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Nordson Corporation had a return on equity of 33.39% and a net margin of 14.43%. The business had revenue of $496.14 million during the quarter, compared to analyst estimates of $470.12 million. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Nordson Corporation will post $5.40 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 22nd will be given a $0.30 dividend. 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. The ex-dividend date is Friday, August 18th. Nordson Corporation’s payout ratio is presently 22.78%.
Several brokerages recently commented on NDSN. BidaskClub lowered Nordson Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered Nordson Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Wells Fargo & Company reissued a “market perform” rating and issued a $130.00 price objective (up previously from $122.00) on shares of Nordson Corporation in a research note on Thursday, May 25th. Wellington Shields raised Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Friday, June 2nd. Finally, FBR & Co reissued an “outperform” rating on shares of Nordson Corporation in a research note on Tuesday, July 11th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target 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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