New York State Common Retirement Fund Lowers Stake in Nordson Co. (NASDAQ:NDSN)

New York State Common Retirement Fund decreased its stake in shares of Nordson Co. (NASDAQ:NDSN - Free Report) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,287 shares of the industrial products company's stock after selling 4,804 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of Nordson worth $34,945,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Nordson by 48.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 231,363 shares of the industrial products company's stock valued at $51,633,000 after buying an additional 75,466 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Nordson during the 4th quarter worth $1,192,000. Assenagon Asset Management S.A. lifted its position in shares of Nordson by 918.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 12,063 shares of the industrial products company's stock worth $3,187,000 after buying an additional 10,878 shares during the last quarter. Morgan Stanley lifted its position in shares of Nordson by 9.2% during the 3rd quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company's stock worth $310,534,000 after buying an additional 117,337 shares during the last quarter. Finally, Vest Financial LLC lifted its position in shares of Nordson by 34.1% during the 4th quarter. Vest Financial LLC now owns 124,251 shares of the industrial products company's stock worth $32,822,000 after buying an additional 31,605 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Stock Up 0.3 %

Shares of NDSN stock traded up $0.74 during trading hours on Friday, reaching $260.40. The company had a trading volume of 165,646 shares, compared to its average volume of 210,287. Nordson Co. has a 12 month low of $208.90 and a 12 month high of $278.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. The business has a fifty day simple moving average of $266.44 and a 200-day simple moving average of $250.19. The company has a market cap of $14.89 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.18. The business had revenue of $633.20 million for the quarter, compared to analyst estimates of $630.77 million. Nordson had a return on equity of 20.59% and a net margin of 18.59%. Nordson's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.95 earnings per share. On average, research analysts expect that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were paid a dividend of $0.68 per share. The ex-dividend date was Friday, February 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.04%. Nordson's payout ratio is 31.81%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NDSN. DA Davidson upped their price objective on Nordson from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. StockNews.com downgraded Nordson from a "buy" rating to a "hold" rating in a research report on Thursday, April 11th. KeyCorp reissued a "sector weight" rating on shares of Nordson in a research note on Monday, February 26th. Finally, Wells Fargo & Company raised their target price on Nordson from $290.00 to $315.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $278.00.

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.