Summit Securities Group LLC Acquires Shares of 1,981 Nordson Corporation (NASDAQ:NDSN)
Summit Securities Group LLC acquired a new position in shares of Nordson Corporation (NASDAQ:NDSN) during the second quarter, Holdings Channel reports. The fund acquired 1,981 shares of the industrial products company’s stock, valued at approximately $240,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC bought a new position in shares of Nordson Corporation during the first quarter worth about $44,110,000. Sei Investments Co. boosted its position in shares of Nordson Corporation by 5.9% in the first quarter. Sei Investments Co. now owns 25,162 shares of the industrial products company’s stock worth $3,091,000 after buying an additional 1,407 shares during the period. Motley Fool Wealth Management LLC bought a new position in shares of Nordson Corporation during the first quarter worth about $252,000. Vanguard Group Inc. boosted its position in shares of Nordson Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,396,104 shares of the industrial products company’s stock worth $540,018,000 after buying an additional 251,861 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Nordson Corporation by 6.4% in the first quarter. Bank of Montreal Can now owns 12,633 shares of the industrial products company’s stock worth $1,553,000 after buying an additional 765 shares during the period. 65.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nordson Corporation (NDSN) opened at 127.68 on Friday. Nordson Corporation has a 1-year low of $89.87 and a 1-year high of $131.49. The company has a 50 day moving average price of $123.96 and a 200 day moving average price of $121.99. The company has a market capitalization of $7.36 billion, a PE ratio of 26.91 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last posted its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. Nordson Corporation had a net margin of 14.43% and a return on equity of 33.39%. The company had revenue of $496.14 million for the quarter, compared to analyst estimates of $470.12 million. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts predict that Nordson Corporation will post $5.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 22nd will be given a $0.30 dividend. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 0.94%. Nordson Corporation’s dividend payout ratio is 22.78%.
NDSN has been the topic of a number of recent research reports. Zacks Investment Research cut Nordson Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 15th. FBR & Co reaffirmed an “outperform” rating on shares of Nordson Corporation in a research note on Tuesday, July 11th. BidaskClub raised Nordson Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Wellington Shields raised Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $130.00 price objective (up from $122.00) on shares of Nordson Corporation in a research note on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $115.50.
About Nordson Corporation
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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