California Public Employees Retirement System Lowers Position in Nordson Co. (NASDAQ:NDSN)

California Public Employees Retirement System reduced its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,515 shares of the industrial products company's stock after selling 4,190 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Nordson worth $28,929,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NDSN. Avior Wealth Management LLC boosted its position in shares of Nordson by 49.1% in the third quarter. Avior Wealth Management LLC now owns 170 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 56 shares during the period. Oak Thistle LLC bought a new position in shares of Nordson in the third quarter valued at approximately $204,000. Czech National Bank boosted its position in shares of Nordson by 48.5% in the third quarter. Czech National Bank now owns 9,462 shares of the industrial products company's stock valued at $2,112,000 after acquiring an additional 3,091 shares during the period. Asset Management One Co. Ltd. lifted its position in Nordson by 95.7% during the third quarter. Asset Management One Co. Ltd. now owns 38,017 shares of the industrial products company's stock valued at $8,484,000 after purchasing an additional 18,588 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Nordson by 21.6% during the third quarter. Handelsbanken Fonder AB now owns 13,530 shares of the industrial products company's stock valued at $3,019,000 after purchasing an additional 2,400 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Up 0.3 %

Nordson stock traded up $0.74 during mid-day trading on Friday, reaching $260.40. 165,646 shares of the company traded hands, compared to its average volume of 180,566. Nordson Co. has a 52-week low of $208.90 and a 52-week high of $278.00. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 1.96 and a beta of 1.00. 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 firm's 50 day moving average price is $266.44 and its 200 day moving average price is $250.51.

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

Nordson Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on NDSN. KeyCorp reiterated a "sector weight" rating on shares of Nordson in a research report on Monday, February 26th. StockNews.com downgraded shares of Nordson from a "buy" rating to a "hold" rating in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on shares of Nordson from $290.00 to $315.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Finally, DA Davidson lifted their price target on shares of Nordson from $290.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.