New York State Teachers Retirement System Sells 604 Shares of Nordson Corporation (NASDAQ:NDSN)

New York State Teachers Retirement System reduced its position in Nordson Corporation (NASDAQ:NDSN) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,363 shares of the industrial products company’s stock after selling 604 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Nordson worth $8,747,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Amalgamated Bank increased its holdings in Nordson by 1.2% in the 1st quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company’s stock valued at $2,153,000 after buying an additional 127 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Nordson by 2.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 126,033 shares of the industrial products company’s stock valued at $25,423,000 after purchasing an additional 2,414 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Nordson by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after purchasing an additional 67 shares during the last quarter. Mcdaniel Terry & Co. grew its holdings in shares of Nordson by 0.4% during the 1st quarter. Mcdaniel Terry & Co. now owns 235,135 shares of the industrial products company’s stock valued at $47,431,000 after purchasing an additional 892 shares during the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of Nordson by 0.7% during the 1st quarter. Copeland Capital Management LLC now owns 120,508 shares of the industrial products company’s stock valued at $24,309,000 after purchasing an additional 801 shares during the last quarter. 72.11% of the stock is owned by institutional investors.

Nordson Trading Up 0.0%

NDSN opened at $222.83 on Friday. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.71 and a beta of 0.89. The company’s 50 day moving average price is $206.44 and its two-hundred day moving average price is $205.66.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. During the same period in the previous year, the firm posted $2.34 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson’s dividend payout ratio is currently 40.10%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NDSN. KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Wolfe Research began coverage on shares of Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating on the stock. Robert W. Baird lifted their price target on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Finally, Vertical Research started coverage on shares of Nordson in a report on Tuesday, June 17th. They set a “hold” rating and a $245.00 price target on the stock. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.00.

About Nordson

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.