New York State Common Retirement Fund Sells 22,100 Shares of Nordson Corporation (NASDAQ:NDSN)

New York State Common Retirement Fund cut its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,374 shares of the industrial products company's stock after selling 22,100 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Nordson worth $17,020,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in Nordson by 27.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,220 shares of the industrial products company's stock valued at $2,557,000 after buying an additional 2,638 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Nordson by 9.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,135 shares of the industrial products company's stock valued at $656,000 after buying an additional 272 shares in the last quarter. Cibc World Markets Corp grew its holdings in Nordson by 422.8% in the 4th quarter. Cibc World Markets Corp now owns 38,575 shares of the industrial products company's stock valued at $8,071,000 after buying an additional 31,196 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Nordson during the 4th quarter valued at $98,000. Finally, Blueshift Asset Management LLC lifted its position in shares of Nordson by 107.8% during the 4th quarter. Blueshift Asset Management LLC now owns 1,756 shares of the industrial products company's stock worth $367,000 after buying an additional 911 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Stock Down 0.2%

Shares of NDSN stock traded down $0.40 during trading hours on Friday, reaching $217.07. The company had a trading volume of 457,181 shares, compared to its average volume of 332,787. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The business has a fifty day simple moving average of $212.07 and a 200-day simple moving average of $206.19. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. On average, research analysts expect that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is presently 40.10%.

Analysts Set New Price Targets

NDSN has been the subject of several research reports. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price for the company in a research report on Friday, May 30th. KeyCorp increased their target price on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Vertical Research initiated coverage on Nordson in a research report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price for the company. Wolfe Research assumed coverage on Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Finally, Robert W. Baird increased their price target on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $254.86.

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.