State of New Jersey Common Pension Fund D Has $3.12 Million Stock Position in Nordson Corporation $NDSN

State of New Jersey Common Pension Fund D lowered its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,489 shares of the industrial products company’s stock after selling 2,411 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nordson were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased 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. DAVENPORT & Co LLC boosted its position in shares of Nordson by 18.7% during the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company’s stock valued at $535,000 after buying an additional 418 shares during the last quarter. Amalgamated Bank increased its position in shares of Nordson by 1.2% during the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company’s stock valued at $2,153,000 after acquiring an additional 127 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Nordson during the 1st quarter valued at $1,599,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Nordson by 6.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company’s stock valued at $981,000 after buying an additional 283 shares during the period. Institutional investors own 72.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NDSN. Wall Street Zen cut shares of Nordson from a “buy” rating to a “hold” rating in a report on Friday, June 27th. KeyCorp boosted their price objective on Nordson from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price for the company in a report on Friday, May 30th. Wolfe Research started coverage on Nordson in a research report on Wednesday, June 18th. They set a “peer perform” rating for the company. Finally, Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $254.86.

Nordson Trading Down 1.8%

NDSN opened at $213.52 on Thursday. The stock has a market cap of $12.07 billion, a PE ratio of 27.44, a PEG ratio of 1.67 and a beta of 0.89. The business has a 50 day moving average of $216.34 and a 200-day moving average of $206.68. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.10. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The business had revenue of $741.51 million for the quarter, compared to analysts’ expectations of $724.04 million. During the same quarter in the prior year, the company earned $2.41 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities research analysts predict that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. Nordson’s dividend payout ratio (DPR) is 40.10%.

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.