Nordson Co. (NASDAQ:NDSN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Nordson Co. (NASDAQ:NDSN) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 109,515 shares of the industrial products company’s stock after selling 4,190 shares during the period. California Public Employees Retirement System’s holdings in Nordson were worth $28,929,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Avior Wealth Management LLC increased its position in shares of Nordson by 49.1% during the third quarter. Avior Wealth Management LLC now owns 170 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 56 shares during the period. Oak Thistle LLC purchased a new stake in shares of Nordson during the third quarter worth $204,000. Czech National Bank increased its holdings in Nordson by 48.5% in the third quarter. Czech National Bank now owns 9,462 shares of the industrial products company’s stock valued at $2,112,000 after buying an additional 3,091 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Nordson by 95.7% in the third quarter. Asset Management One Co. Ltd. now owns 38,017 shares of the industrial products company’s stock valued at $8,484,000 after buying an additional 18,588 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Nordson by 21.6% in the third quarter. Handelsbanken Fonder AB now owns 13,530 shares of the industrial products company’s stock valued at $3,019,000 after buying an additional 2,400 shares during the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Price Performance

Shares of NDSN opened at $260.40 on Friday. Nordson Co. has a fifty-two week low of $208.90 and a fifty-two week high of $278.00. The company has a market capitalization of $14.89 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The firm has a 50-day simple moving average of $266.44 and a 200-day simple moving average of $250.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 2.19.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The business had revenue of $633.20 million during the quarter, compared to the consensus estimate of $630.77 million. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were given a $0.68 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a yield of 1.04%. Nordson’s payout ratio is currently 31.81%.

Wall Street Analysts Forecast Growth

NDSN has been the topic of several recent analyst reports. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. DA Davidson upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. KeyCorp restated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $278.00.

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. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.