California Public Employees Retirement System Acquires 1,795 Shares of Nordson Co. (NASDAQ:NDSN)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System increased its holdings in shares of Nordson Co. (NASDAQ:NDSN – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,316 shares of the industrial products company’s stock after purchasing an additional 1,795 shares during the quarter. California Public Employees Retirement System owned 0.23% of Nordson worth $31,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. Salem Investment Counselors Inc. bought a new position in shares of Nordson during the second quarter valued at $31,000. Asset Dedication LLC increased its position in Nordson by 1,258.3% in the fourth quarter. Asset Dedication LLC now owns 163 shares of the industrial products company’s stock worth $39,000 after buying an additional 151 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Nordson by 33.1% during the third quarter. Bessemer Group Inc. now owns 213 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 53 shares in the last quarter. Romano Brothers AND Company purchased a new stake in shares of Nordson during the fourth quarter worth about $58,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Nordson during the third quarter worth about $79,000. 70.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Loop Capital cut their target price on Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Tuesday, March 21st. StockNews.com began coverage on Nordson in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Robert W. Baird cut their price target on Nordson from $259.00 to $241.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $250.20.

Insider Buying and Selling

In related news, EVP Jeffrey A. Pembroke sold 5,000 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $243.48, for a total transaction of $1,217,400.00. Following the transaction, the executive vice president now directly owns 17,600 shares in the company, valued at approximately $4,285,248. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Nordson Trading Down 0.2 %

Shares of NASDAQ NDSN opened at $216.40 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $215.17 and a two-hundred day simple moving average of $227.82. The firm has a market cap of $12.39 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91. Nordson Co. has a twelve month low of $194.89 and a twelve month high of $251.26.

Nordson (NASDAQ:NDSN – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). Nordson had a net margin of 19.18% and a return on equity of 23.67%. The company had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $625.87 million. During the same quarter in the prior year, the business posted $2.07 earnings per share. Analysts expect that Nordson Co. will post 9.04 earnings per share for the current fiscal year.

Nordson Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.