Louisiana State Employees Retirement System cut its position in shares of Nordson Co. (NASDAQ:NDSN) by 0.7% during the 1st quarter, Holdings Channel reports. The firm owned 13,800 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Nordson were worth $1,829,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Doyle Wealth Management bought a new position in shares of Nordson during the 4th quarter valued at about $30,000. CX Institutional bought a new position in shares of Nordson during the 1st quarter valued at about $30,000. Cordasco Financial Network bought a new position in shares of Nordson during the 1st quarter valued at about $30,000. Penserra Capital Management LLC bought a new position in shares of Nordson during the 4th quarter valued at about $36,000. Finally, Bessemer Group Inc. bought a new position in shares of Nordson during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 70.20% of the company’s stock.
In related news, CEO Michael F. Hilton sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $137.98, for a total transaction of $551,920.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory P. Merk sold 5,860 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $137.14, for a total value of $803,640.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,560 shares of company stock worth $9,831,639. 1.97% of the stock is owned by corporate insiders.
NDSN opened at $144.95 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.84 and a current ratio of 2.67. Nordson Co. has a 1 year low of $110.16 and a 1 year high of $146.84. The company has a market cap of $8.26 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.79 and a beta of 1.11.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.21). Nordson had a return on equity of 23.01% and a net margin of 14.59%. The company had revenue of $497.91 million for the quarter, compared to the consensus estimate of $497.99 million. During the same quarter in the previous year, the business earned $1.35 earnings per share. Nordson’s revenue was down 9.5% compared to the same quarter last year. Research analysts forecast that Nordson Co. will post 6.36 earnings per share for the current fiscal year.
Several research firms recently issued reports on NDSN. BidaskClub upgraded Nordson from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded Nordson from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. CIBC upgraded Nordson from a “market perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 8th. Finally, Oppenheimer upgraded Nordson from a “market perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 8th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Nordson has an average rating of “Hold” and a consensus target price of $141.33.
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Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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