Strs Ohio acquired a new stake in shares of Nordson Corporation (NASDAQ:NDSN) during the second quarter, Holdings Channel reports. The firm acquired 55,000 shares of the industrial products company’s stock, valued at approximately $6,672,000.
Several other institutional investors have also bought and sold shares of NDSN. Meritage Portfolio Management acquired a new position in Nordson Corporation during the first quarter valued at $6,011,000. Acadian Asset Management LLC acquired a new position in Nordson Corporation during the first quarter valued at $273,000. ProShare Advisors LLC raised its position in Nordson Corporation by 21.7% in the first quarter. ProShare Advisors LLC now owns 84,171 shares of the industrial products company’s stock valued at $10,340,000 after buying an additional 15,030 shares during the period. Nationwide Fund Advisors raised its position in Nordson Corporation by 1.2% in the first quarter. Nationwide Fund Advisors now owns 89,351 shares of the industrial products company’s stock valued at $10,976,000 after buying an additional 1,080 shares during the period. Finally, CAPROCK Group Inc. acquired a new position in Nordson Corporation during the first quarter valued at $235,000. Institutional investors own 65.83% of the company’s stock.
Nordson Corporation (NASDAQ NDSN) opened at 128.31 on Friday. Nordson Corporation has a 12 month low of $87.76 and a 12 month high of $131.49. The company’s 50-day moving average is $121.72 and its 200 day moving average is $121.26. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 27.05 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings results on Monday, May 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping 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 firm had revenue of $496.14 million during the quarter, compared to the consensus estimate of $470.12 million. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Equities analysts forecast that Nordson Corporation will post $5.40 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Nordson Corporation from a “buy” rating to a “strong-buy” rating in a research 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 for the company in a report on Wednesday, April 26th. FBR & Co reiterated an “outperform” rating on shares of Nordson Corporation in a report on Tuesday, July 11th. Wells Fargo & Company reiterated a “market perform” rating and issued a $130.00 target price (up from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Finally, Wellington Shields upgraded shares of Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price 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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