Retirement Systems of Alabama Sells 106 Shares of Nordson Corporation (NASDAQ:NDSN)

Retirement Systems of Alabama lowered its stake in Nordson Corporation (NASDAQ:NDSN) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,655 shares of the industrial products company’s stock after selling 106 shares during the quarter. Retirement Systems of Alabama’s holdings in Nordson were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NDSN. New York Life Investment Management LLC grew its holdings in shares of Nordson by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock worth $1,530,000 after purchasing an additional 49 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Nordson by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 69 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Nordson by 1.6% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 71 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of Nordson by 6.6% during the first quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 71 shares in the last quarter. Finally, Isthmus Partners LLC grew its holdings in shares of Nordson by 6.1% during the fourth quarter. Isthmus Partners LLC now owns 1,380 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Performance

NASDAQ:NDSN opened at $212.72 on Thursday. The business has a 50 day moving average of $201.46 and a 200 day moving average of $206.55. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.64 and a beta of 0.89. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm had revenue of $682.94 million during the quarter, compared to the consensus estimate of $671.36 million. During the same quarter in the previous year, the company posted $2.34 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.47%. Nordson’s payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised Nordson from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Vertical Research assumed coverage on Nordson in a report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price objective for the company. Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective for the company in a report on Friday, May 30th. Wolfe Research began coverage on Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating for the company. Finally, Robert W. Baird boosted their target price on Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Nordson currently has an average rating of “Moderate Buy” and an average price target of $252.00.

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.