Teacher Retirement System of Texas Makes New $1.60 Million Investment in Nordson Corporation (NASDAQ:NDSN)

Teacher Retirement System of Texas acquired a new position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,929 shares of the industrial products company's stock, valued at approximately $1,599,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Nordson by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after buying an additional 67 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Nordson by 1.6% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock valued at $884,000 after buying an additional 71 shares during the period. Portside Wealth Group LLC raised its stake in Nordson by 6.6% in the first quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock valued at $239,000 after buying an additional 71 shares during the period. CIBC Private Wealth Group LLC raised its stake in Nordson by 5.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,829 shares of the industrial products company's stock valued at $370,000 after buying an additional 87 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares during the period. Institutional investors own 72.11% of the company's stock.

Nordson Stock Performance

Shares of NASDAQ:NDSN traded down $2.35 during trading on Friday, reaching $220.82. 272,748 shares of the stock were exchanged, compared to its average volume of 330,015. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a market cap of $12.48 billion, a PE ratio of 28.38, a PEG ratio of 1.72 and a beta of 0.89. The stock has a 50-day moving average price of $209.56 and a 200-day moving average price of $206.03. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. Research analysts expect that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is currently 40.10%.

Analyst Ratings Changes

Several analysts have issued reports on NDSN shares. KeyCorp dropped their price objective on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird upped their price objective on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Wolfe Research initiated coverage on Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Wall Street Zen cut Nordson from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $252.00.

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.