Nordson Corporation (NASDAQ:NDSN) Stock Position Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in Nordson Corporation (NASDAQ:NDSN) by 12.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,652 shares of the industrial products company’s stock after selling 377 shares during the period. Maryland State Retirement & Pension System’s holdings in Nordson were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbour Investments Inc. grew its position in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 54 shares in the last quarter. Wedbush Securities Inc. grew its position in Nordson by 2.2% in the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock valued at $553,000 after buying an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Nordson by 2.9% in 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 buying an additional 67 shares in the last quarter. Allworth Financial LP grew its position in Nordson by 0.6% in the 1st quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company’s stock valued at $2,146,000 after buying an additional 69 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its position in Nordson by 1.6% in the 1st 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 in the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Price Performance

NDSN stock opened at $217.22 on Friday. 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 Corporation has a one year low of $165.03 and a one year high of $266.86. The firm has a market capitalization of $12.28 billion, a PE ratio of 27.92, a P/E/G ratio of 1.70 and a beta of 0.89. The firm has a 50-day moving average of $216.70 and a two-hundred day moving average of $206.82.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating 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 company had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same period in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts forecast 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 given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson’s dividend payout ratio is 40.10%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NDSN. Robert W. Baird increased their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target for the company in a report on Friday, May 30th. Wolfe Research began coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a “peer perform” rating for the company. Wall Street Zen downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Vertical Research began coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a “hold” rating and a $245.00 price target for the company. Six 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 stock. According to data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and a consensus price target of $254.86.

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.