Louisiana State Employees Retirement System raised its stake in Nordson Co. (NASDAQ:NDSN) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 13,500 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Nordson were worth $1,658,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NDSN. Bank of Montreal Can boosted its stake in shares of Nordson by 4.9% in the third quarter. Bank of Montreal Can now owns 11,187 shares of the industrial products company’s stock valued at $1,115,000 after buying an additional 522 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Nordson by 3.3% in the third quarter. California Public Employees Retirement System now owns 133,400 shares of the industrial products company’s stock valued at $13,291,000 after buying an additional 4,200 shares in the last quarter. Insight Capital Research & Management Inc. acquired a new stake in shares of Nordson during the third quarter valued at about $1,999,000. Albert D Mason Inc. boosted its stake in shares of Nordson by 80.0% in the third quarter. Albert D Mason Inc. now owns 22,646 shares of the industrial products company’s stock valued at $2,256,000 after buying an additional 10,068 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Nordson by 1.1% in the third quarter. GHP Investment Advisors Inc. now owns 23,578 shares of the industrial products company’s stock valued at $2,349,000 after buying an additional 260 shares in the last quarter. 64.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nordson Co. (NASDAQ:NDSN) opened at 121.66 on Friday. The firm has a market cap of $7.00 billion, a PE ratio of 25.01 and a beta of 1.26. The firm’s 50-day moving average is $123.03 and its 200-day moving average is $112.46. Nordson Co. has a 12-month low of $74.49 and a 12-month high of $127.50.
Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, February 20th. The industrial products company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The firm earned $407 million during the quarter, compared to the consensus estimate of $396.78 million. Nordson had a return on equity of 35.20% and a net margin of 15.03%. During the same period in the prior year, the business earned $0.61 EPS. Equities analysts expect that Nordson Co. will post $5.34 earnings per share for the current fiscal year.
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Several analysts recently weighed in on the stock. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Nordson in a report on Thursday, December 22nd. Zacks Investment Research raised shares of Nordson from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Thursday, December 29th. Seaport Global Securities raised shares of Nordson from an “accumulate” rating to a “buy” rating in a report on Wednesday, February 1st. KeyCorp raised shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a report on Tuesday, February 14th. Finally, Barrington Research raised their target price on shares of Nordson from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Nordson presently has a consensus rating of “Buy” and an average target price of $112.20.
In related news, insider John J. Keane sold 23,600 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $123.88, for a total transaction of $2,923,568.00. Following the completion of the transaction, the insider now directly owns 81,086 shares in the company, valued at approximately $10,044,933.68. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.15% of the stock is owned by corporate insiders.
Nordson 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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