TIAA CREF Investment Management LLC increased its stake in Nordson Co. (NASDAQ:NDSN) by 26.7% during the first quarter, Holdings Channel reports. The institutional investor owned 241,464 shares of the industrial products company’s stock after buying an additional 50,881 shares during the period. TIAA CREF Investment Management LLC’s holdings in Nordson were worth $29,661,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Nordson during the fourth quarter valued at about $3,725,000. Advisory Research Inc. bought a new stake in shares of Nordson during the fourth quarter valued at about $1,570,000. Mason Street Advisors LLC increased its stake in shares of Nordson by 1.8% in the first quarter. Mason Street Advisors LLC now owns 25,282 shares of the industrial products company’s stock valued at $3,106,000 after buying an additional 458 shares in the last quarter. Comerica Bank increased its stake in shares of Nordson by 5.0% in the fourth quarter. Comerica Bank now owns 47,720 shares of the industrial products company’s stock valued at $5,419,000 after buying an additional 2,274 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Nordson during the fourth quarter valued at about $48,867,000. 64.61% of the stock is owned by institutional investors.
Shares of Nordson Co. (NASDAQ:NDSN) traded down 0.151% on Friday, reaching $115.555. 101,711 shares of the company traded hands. The firm has a 50-day moving average price of $123.93 and a 200 day moving average price of $118.42. The company has a market capitalization of $6.66 billion, a PE ratio of 24.358 and a beta of 1.26. Nordson Co. has a one year low of $78.16 and a one year high of $131.49.
Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Nordson had a return on equity of 35.20% and a net margin of 15.03%. The company had revenue of $496.14 million during the quarter, compared to the consensus estimate of $470.12 million. During the same period last year, the company earned $1.23 EPS. Nordson’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that Nordson Co. will post $5.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Tuesday, May 30th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $1.08 annualized dividend and a yield of 0.93%. Nordson’s payout ratio is 22.88%.
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Several equities research analysts have recently issued reports on NDSN shares. KeyCorp raised shares of Nordson from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Tuesday, February 14th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Nordson in a research report on Tuesday, February 28th. Barrington Research increased their price objective on shares of Nordson from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Finally, Zacks Investment Research downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research report on Saturday, April 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $114.09.
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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