California State Teachers Retirement System Buys 6,662 Shares of Nordson Co. (NASDAQ:NDSN)

California State Teachers Retirement System raised its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,333 shares of the industrial products company's stock after acquiring an additional 6,662 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Nordson worth $18,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NDSN. New York Life Investment Management LLC lifted its position in shares of Nordson by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock worth $1,530,000 after buying an additional 49 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its stake in Nordson by 1.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company's stock valued at $692,000 after buying an additional 56 shares during the period. Venturi Wealth Management LLC increased its stake in Nordson by 4.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company's stock valued at $312,000 after buying an additional 66 shares during the period. Metis Global Partners LLC increased its stake in Nordson by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company's stock valued at $379,000 after buying an additional 69 shares during the period. Finally, Isthmus Partners LLC increased its stake in Nordson by 6.1% in the 4th quarter. Isthmus Partners LLC now owns 1,380 shares of the industrial products company's stock valued at $289,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 72.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NDSN. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research note on Friday. KeyCorp lowered their price target on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. BNP Paribas cut shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price target on the stock. in a research note on Monday, February 24th. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Robert W. Baird boosted their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $253.17.

Nordson Stock Performance

NDSN traded up $2.39 during trading hours on Tuesday, hitting $214.57. 89,878 shares of the stock were exchanged, compared to its average volume of 308,540. The stock has a 50-day simple moving average of $191.75 and a 200-day simple moving average of $210.86. Nordson Co. has a 12 month low of $165.03 and a 12 month high of $266.86. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Nordson's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 earnings per share. Analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.45%. Nordson's dividend payout ratio is currently 40.10%.

About Nordson

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.