R&R

Some weekend R&R: Reading & Research turns up this interesting commentary on a rather 'boring' company - Nordson. (NDSN) As a general rule of thumb, we like boring companies. Strong earners that don't need front page headlines to move share price or "add" share value.

Article Quotes:

"Chances are also good that you've never heard of this company, which is based in America's heartland and traces its roots to the automotive industry at the beginning of the 20th century.

Nordson, with annual sales of nearly $1 billion, makes precision dispensing systems for applying adhesives, coatings and sealants in a wide range of industries. It also makes testing and inspection equipment for electronic components and adhesive systems and other products for the life-sciences industry."

Also noted in the article, it holds leading market shares in its main businesses, and with 70% of its revenues coming from overseas, it is well-cushioned from economic deceleration in the U.S. The weak dollar is an added boon. Comforting words to a worried investor in jittery or uncertain markets.

Share price is down on news of a recent acquisition, some analyst thinking they paid a bit too much. Researching relevant data says no. We would look for the stock to retrace some of it's recent lows. A share bellow $48.00 right now looks attractive. Given a market downturn or substantial weakness, we would look to buy in on a broad market sell off.

Here is a brief blurb on the company:

Nordson Corporation produces precision dispensing equipment that applies adhesives, sealants and coatings to a range of consumer and industrial products during manufacturing operations. The Company also produces technology-based systems for curing and surface treatment processes, as well as life sciences applications. Its products are used around the world in the appliance, automotive, bookbinding, container, converting, electronics, food and beverage, furniture, life sciences, medical, metal finishing, nonwovens, packaging, semiconductor and other industries. Nordson markets its products in the United States and 57 other countries. It operates in three business segments: adhesive dispensing systems, advanced technology systems, and finishing and coating systems. In October 2006, the Company sold its Fiber Systems Group to Saurer Ltd.'s business unit, Neumag. In May 2007, it acquired YESTech Inc. and PICO Dosiertechnik. In August 2007, the Company acquired TAH Industries.

Article Source: Barron's Online