Texas Permanent School Fund Corp Sells 2,236 Shares of Nordson Co. (NASDAQ:NDSN)

Texas Permanent School Fund Corp lowered its position in shares of Nordson Co. (NASDAQ:NDSN) by 19.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,981 shares of the industrial products company’s stock after selling 2,236 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Nordson were worth $2,083,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NDSN. Ashton Thomas Private Wealth LLC bought a new stake in Nordson during the 2nd quarter worth about $27,000. Tortoise Investment Management LLC lifted its holdings in Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after buying an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Nordson in the second quarter valued at approximately $46,000. UMB Bank n.a. raised its position in shares of Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 191 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Nordson by 11,450.0% in the 2nd 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 during the period. Institutional investors own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NDSN shares. Robert W. Baird lifted 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. DA Davidson cut their price target on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.40.

Nordson Price Performance

Shares of NDSN opened at $255.18 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The firm has a market capitalization of $14.61 billion, a PE ratio of 30.41, a P/E/G ratio of 2.00 and a beta of 0.90. The stock has a 50 day simple moving average of $243.71 and a 200 day simple moving average of $250.01. Nordson Co. has a 52-week low of $208.91 and a 52-week high of $279.38.

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

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.78 per share. This is a boost from Nordson’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Tuesday, August 27th. Nordson’s dividend payout ratio is currently 37.19%.

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.