Retirement Systems of Alabama Cuts Holdings in Nordson Co. (NASDAQ:NDSN)

Retirement Systems of Alabama lessened its position in shares of Nordson Co. (NASDAQ:NDSN) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,936 shares of the industrial products company’s stock after selling 305 shares during the period. Retirement Systems of Alabama’s holdings in Nordson were worth $3,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NDSN. Tobam increased its holdings in Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Nordson in the fourth quarter worth about $26,000. Sound Income Strategies LLC acquired a new stake in shares of Nordson in the fourth quarter valued at about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Nordson during the 4th quarter valued at about $28,000. Finally, Smithfield Trust Co lifted its position in Nordson by 105.6% during the 3rd quarter. Smithfield Trust Co now owns 146 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NDSN shares. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on shares of Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. DA Davidson upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, KeyCorp restated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

Nordson Trading Up 0.5 %

NASDAQ NDSN opened at $272.06 on Wednesday. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. Nordson Co. has a 12 month low of $208.90 and a 12 month high of $278.00. The company’s fifty day moving average price is $265.98 and its two-hundred day moving average price is $252.66.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $630.77 million. During the same quarter last year, the company posted $1.95 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Company Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.