Nordson Co. (NASDAQ:NDSN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in Nordson Co. (NASDAQ:NDSN) by 29.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,276 shares of the industrial products company’s stock after selling 7,460 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Nordson were worth $4,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Nordson in the second quarter worth about $27,000. Tortoise Investment Management LLC grew its position in Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Nordson during the 2nd quarter valued at $46,000. UMB Bank n.a. lifted its holdings in shares of Nordson by 2,387.5% in the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Nordson by 11,450.0% in the second quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Nordson Stock Performance

Shares of NDSN opened at $253.37 on Tuesday. The company’s fifty day moving average is $243.71 and its 200-day moving average is $250.01. Nordson Co. has a 12 month low of $208.91 and a 12 month high of $279.38. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, August 21st. The industrial products company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same quarter in the prior year, the business posted $2.35 EPS. Nordson’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Nordson Co. will post 9.55 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.78 per share. This is an increase from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, August 27th. This represents a $3.12 annualized dividend and a dividend yield of 1.23%. Nordson’s payout ratio is presently 37.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NDSN shares. Robert W. Baird increased their price objective on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson cut their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $282.40.

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.