State of New Jersey Common Pension Fund D Sells 2,411 Shares of 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 lowered its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,489 shares of the industrial products company's stock after selling 2,411 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Nordson were worth $3,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NDSN. Massachusetts Financial Services Co. MA increased its position 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. First Trust Advisors LP increased its holdings in Nordson by 676.5% in the 4th quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after buying an additional 214,594 shares during the period. Nuveen LLC bought a new stake in Nordson in the 1st quarter valued at $29,125,000. Invesco Ltd. increased its holdings in Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock valued at $210,536,000 after buying an additional 142,991 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Nordson by 19,089.3% in the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock valued at $28,606,000 after buying an additional 141,070 shares during the period. Institutional investors own 72.11% of the company's stock.

Nordson Trading Up 0.2%

Nordson stock traded up $0.56 during trading hours on Tuesday, reaching $226.35. 607,286 shares of the company's stock traded hands, compared to its average volume of 411,825. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.71 and a beta of 0.89. The firm's 50 day moving average is $217.03 and its 200-day moving average is $206.86. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.10. The company had revenue of $741.51 million during the quarter, compared to analysts' expectations of $724.04 million. Nordson had a return on equity of 19.45% and a net margin of 16.34%.Nordson's revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, analysts predict that Nordson Corporation 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, 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 dividend payout ratio is 39.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NDSN shares. Robert W. Baird boosted their price target on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday. Oppenheimer boosted their price target on shares of Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Monday. Jefferies Financial Group restated a "hold" rating and issued a $240.00 target price on shares of Nordson in a research note on Thursday, August 21st. Wolfe Research initiated coverage on shares of Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Finally, KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $255.75.

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.