Citigroup Inc. grew its position in shares of Nordson Corporation (NASDAQ:NDSN) by 40.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,772 shares of the industrial products company’s stock after acquiring an additional 1,667 shares during the quarter. Citigroup Inc.’s holdings in Nordson Corporation were worth $700,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Architects Inc boosted its position in shares of Nordson Corporation by 12.1% during the 2nd quarter. Financial Architects Inc now owns 926 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 100 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Nordson Corporation by 1.5% during the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 21 shares during the last quarter. Opus Capital Group LLC bought a new position in shares of Nordson Corporation during the 2nd quarter valued at approximately $208,000. Raymond James Trust N.A. bought a new position in shares of Nordson Corporation during the 2nd quarter valued at approximately $210,000. Finally, Bridgewater Associates LP bought a new position in shares of Nordson Corporation during the 2nd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 65.48% of the company’s stock.
Shares of Nordson Corporation (NASDAQ NDSN) opened at 122.29 on Wednesday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 24.32 and a beta of 1.37. The company’s 50-day moving average price is $114.43 and its 200 day moving average price is $120.92. Nordson Corporation has a 12-month low of $95.35 and a 12-month high of $131.49.
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 Zacks’ 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 return on equity of 32.99% and a net margin of 14.57%. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. On average, equities analysts predict that Nordson Corporation will post $5.32 earnings per share for the current year.
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In other Nordson Corporation news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the transaction, the vice president now owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.15% of the company’s stock.
A number of research firms have recently commented on NDSN. Robert W. Baird reiterated a “hold” rating and set a $138.00 target price on shares of Nordson Corporation in a research report on Wednesday, October 4th. FBR & Co set a $160.00 target price on Nordson Corporation and gave the company a “buy” rating in a research report on Monday, September 11th. BidaskClub downgraded Nordson Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded Nordson Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Longbow Research upgraded Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, September 20th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $139.71.
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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