Kentucky Retirement Systems Lowers Position in Nordson Co. (NASDAQ:NDSN)

Kentucky Retirement Systems lessened its holdings in Nordson Co. (NASDAQ:NDSN) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,121 shares of the industrial products company’s stock after selling 213 shares during the period. Kentucky Retirement Systems’ holdings in Nordson were worth $1,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Nordson during the fourth quarter valued at about $158,948,000. Public Employees Retirement Association of Colorado raised its position in Nordson by 1,579.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 347,371 shares of the industrial products company’s stock valued at $91,762,000 after purchasing an additional 326,690 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Nordson by 237.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 247,861 shares of the industrial products company’s stock valued at $68,049,000 after purchasing an additional 174,330 shares in the last quarter. International Assets Investment Management LLC raised its position in Nordson by 24,445.4% during the fourth quarter. International Assets Investment Management LLC now owns 158,809 shares of the industrial products company’s stock valued at $41,951,000 after purchasing an additional 158,162 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in Nordson during the first quarter valued at about $42,894,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Stock Up 0.0 %

Shares of NDSN stock traded up $0.09 during trading hours on Monday, hitting $246.04. 32,577 shares of the company’s stock traded hands, compared to its average volume of 231,499. The stock’s fifty day simple moving average is $233.79 and its two-hundred day simple moving average is $253.26. Nordson Co. has a 12-month low of $208.91 and a 12-month high of $279.38. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.51.

Nordson (NASDAQ:NDSN) last released its earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.04. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The firm had revenue of $650.64 million during the quarter, compared to analyst estimates of $661.06 million. During the same period last year, the business earned $2.26 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, analysts expect that Nordson Co. will post 9.52 EPS for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a yield of 1.11%. Nordson’s dividend payout ratio is presently 32.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NDSN shares. DA Davidson lowered their price target on Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird cut their target price on Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nordson presently has an average rating of “Moderate Buy” and a consensus target price of $279.40.

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.