State of Alaska Department of Revenue Raises Stake in Nordson Co. (NASDAQ:NDSN)

State of Alaska Department of Revenue lifted its position in shares of Nordson Co. (NASDAQ:NDSN) by 34.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,099 shares of the industrial products company’s stock after buying an additional 2,355 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nordson were worth $1,330,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its position in Nordson by 12.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,017 shares of the industrial products company’s stock valued at $533,000 after buying an additional 445 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Nordson in the first quarter worth approximately $459,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Nordson by 13.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 628,020 shares of the industrial products company’s stock worth $83,226,000 after buying an additional 76,089 shares during the last quarter. Advisory Services Network LLC increased its holdings in Nordson by 1.5% in the first quarter. Advisory Services Network LLC now owns 6,125 shares of the industrial products company’s stock worth $812,000 after buying an additional 92 shares during the last quarter. Finally, FMR LLC increased its holdings in Nordson by 7,456.8% in the first quarter. FMR LLC now owns 48,061 shares of the industrial products company’s stock worth $6,369,000 after buying an additional 47,425 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Shares of NDSN stock opened at $142.89 on Friday. Nordson Co. has a 12 month low of $110.16 and a 12 month high of $149.23. The company has a quick ratio of 1.57, a current ratio of 2.21 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $140.02 and its two-hundred day moving average is $138.04. The company has a market cap of $7.92 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.20.



Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.18). Nordson had a net margin of 14.74% and a return on equity of 21.96%. The company had revenue of $559.75 million for the quarter, compared to analyst estimates of $587.74 million. During the same quarter last year, the business earned $1.60 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Nordson Co. will post 5.93 EPS for the current fiscal year.

In related news, insider Gregory A. Thaxton sold 2,411 shares of Nordson stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $138.14, for a total value of $333,055.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey A. Pembroke sold 3,200 shares of Nordson stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $140.19, for a total value of $448,608.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,687 shares of company stock worth $5,270,682. Corporate insiders own 1.97% of the company’s stock.

NDSN has been the topic of a number of research reports. Longbow Research set a $160.00 price objective on Nordson and gave the stock a “buy” rating in a report on Friday, August 23rd. ValuEngine downgraded Nordson from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Nordson from a “hold” rating to a “sell” rating and set a $148.00 price objective on the stock. in a report on Monday, July 1st. BidaskClub upgraded Nordson from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, DA Davidson dropped their price objective on Nordson from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $143.00.

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. 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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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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