California Public Employees Retirement System Has $20.25 Million Position in Nordson Co. (NASDAQ:NDSN)

California Public Employees Retirement System decreased its position in Nordson Co. (NASDAQ:NDSN - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 96,779 shares of the industrial products company's stock after selling 2,975 shares during the quarter. California Public Employees Retirement System owned 0.17% of Nordson worth $20,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its position in Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 52 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Nordson by 73.7% in the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after buying an additional 115 shares during the last quarter. Brooklyn Investment Group lifted its position in Nordson by 695.0% during the 4th quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company's stock worth $67,000 after buying an additional 278 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Nordson during the 4th quarter worth about $98,000. Finally, Brown Brothers Harriman & Co. increased its position in Nordson by 166.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 480 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on NDSN. Seaport Res Ptn raised shares of Nordson from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Robert W. Baird reiterated a "neutral" rating and issued a $237.00 price objective (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. DA Davidson dropped their target price on Nordson from $295.00 to $285.00 and set a "buy" rating for the company in a research report on Friday, December 13th. KeyCorp decreased their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Loop Capital raised Nordson from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nordson has an average rating of "Moderate Buy" and a consensus price target of $250.20.

Nordson Trading Up 0.8 %

NDSN traded up $1.29 during midday trading on Tuesday, reaching $172.09. 106,967 shares of the company were exchanged, compared to its average volume of 354,341. The stock's 50-day simple moving average is $209.47 and its 200 day simple moving average is $229.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The stock has a market capitalization of $9.79 billion, a P/E ratio of 21.89, a PEG ratio of 1.65 and a beta of 0.96. Nordson Co. has a one year low of $168.76 and a one year high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. As a group, analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.81%. Nordson's dividend payout ratio (DPR) is currently 39.69%.

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.