Retirement Systems of Alabama Has $3.10 Million Stock Position in Nordson Co. (NASDAQ:NDSN)

Retirement Systems of Alabama cut its holdings in Nordson Co. (NASDAQ:NDSN) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,799 shares of the industrial products company’s stock after selling 186 shares during the period. Retirement Systems of Alabama’s holdings in Nordson were worth $3,099,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NDSN. State Street Corp grew its position in shares of Nordson by 7.2% during the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after purchasing an additional 177,282 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Nordson by 2.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,323 shares of the industrial products company’s stock worth $601,032,000 after buying an additional 68,810 shares in the last quarter. Geode Capital Management LLC increased its stake in Nordson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock worth $377,919,000 after acquiring an additional 14,780 shares during the period. American Century Companies Inc. raised its holdings in Nordson by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 601,984 shares of the industrial products company’s stock valued at $139,624,000 after acquiring an additional 15,947 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Nordson by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after acquiring an additional 11,809 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Nordson Stock Performance

NASDAQ NDSN opened at $209.73 on Friday. Nordson Co. has a fifty-two week low of $207.15 and a fifty-two week high of $279.38. The stock has a market cap of $11.99 billion, a PE ratio of 25.86, a PEG ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.52 and a current ratio of 2.41. The firm’s fifty day moving average price is $251.19 and its two-hundred day moving average price is $245.32.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The business had revenue of $744.00 million during the quarter, compared to analysts’ expectations of $736.83 million. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts expect that Nordson Co. will post 10.34 EPS for the current fiscal year.

Nordson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.49%. Nordson’s dividend payout ratio (DPR) is presently 38.47%.

Analysts Set New Price Targets

NDSN has been the topic of a number of recent analyst reports. Baird R W cut Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson reduced their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Robert W. Baird restated a “neutral” rating and set a $237.00 price objective (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $279.00.

Insiders Place Their Bets

In related news, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the transaction, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. This trade represents a 6.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Lovass sold 317 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the sale, the executive vice president now owns 6,666 shares in the company, valued at $1,738,159.50. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,629 shares of company stock valued at $914,400 in the last ninety days. 0.86% of the stock is currently owned by insiders.

Nordson 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.