State of New Jersey Common Pension Fund D Decreases Holdings in Nordson Corporation $NDSN

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Nordson Corporation by 13.5%, now holding 15,489 shares valued at approximately $3.12 million.
• Analysts have varied opinions on Nordson, with one analyst rating it as a Strong Buy, while others have mixed ratings leading to an average price target of $254.86.
• Nordson reported strong quarterly earnings, with a net margin of 16.51% and revenue of $741.51 million, surpassing expectations and marking a 12.1% increase year-over-year.

State of New Jersey Common Pension Fund D cut its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,489 shares of the industrial products company's stock after selling 2,411 shares during the period. State of New Jersey Common Pension Fund D's holdings in Nordson were worth $3,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in Nordson by 3.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,561,866 shares of the industrial products company's stock worth $326,803,000 after acquiring an additional 47,052 shares during the period. Invesco Ltd. grew its holdings in Nordson by 15.9% during the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock worth $210,536,000 after acquiring an additional 142,991 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Nordson by 156.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock worth $205,685,000 after acquiring an additional 621,734 shares during the period. ProShare Advisors LLC grew its holdings in Nordson by 0.7% during the fourth quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock worth $159,280,000 after acquiring an additional 4,955 shares during the period. Finally, Northern Trust Corp grew its holdings in Nordson by 21.8% during the fourth quarter. Northern Trust Corp now owns 508,066 shares of the industrial products company's stock worth $106,308,000 after acquiring an additional 91,097 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NDSN has been the topic of several analyst reports. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a report on Friday, May 30th. KeyCorp raised their price objective on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Robert W. Baird raised their price objective on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Wolfe Research initiated coverage on Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.86.

Nordson Trading Up 3.3%

Nordson stock traded up $7.24 during trading on Friday, reaching $227.17. 650,933 shares of the company were exchanged, compared to its average volume of 379,143. Nordson Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The company has a market capitalization of $12.84 billion, a P/E ratio of 28.54, a PEG ratio of 1.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.64. The stock's 50 day simple moving average is $216.63 and its two-hundred day simple moving average is $206.71.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.10. The firm had revenue of $741.51 million for the quarter, compared to the consensus estimate of $724.04 million. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The firm's revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 earnings per share. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, equities research analysts expect that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. Nordson's payout ratio is presently 39.20%.

Nordson 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.