Texas Permanent School Fund Corp Buys 3,565 Shares of Nordson Co. (NASDAQ:NDSN)

Posted by on Jul 28th, 2023

Texas Permanent School Fund Corp increased its stake in shares of Nordson Co. (NASDAQ:NDSN – Free Report) by 46.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,206 shares of the industrial products company’s stock after purchasing an additional 3,565 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Nordson were worth $2,491,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Nordson by 11.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,661 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 171 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Nordson by 9.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,415 shares of the industrial products company’s stock valued at $32,542,000 after purchasing an additional 12,038 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Nordson by 2.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,098 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 130 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Nordson by 67.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 17,793 shares of the industrial products company’s stock worth $4,230,000 after buying an additional 7,157 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in Nordson by 13.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 421 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 49 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Nordson Price Performance

Shares of NDSN opened at $248.10 on Friday. The stock’s fifty day moving average is $234.43 and its 200-day moving average is $228.16. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. Nordson Co. has a one year low of $202.57 and a one year high of $251.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 1.17.

Nordson (NASDAQ:NDSN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 23rd. The industrial products company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $650.17 million during the quarter, compared to analyst estimates of $638.87 million. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. Equities analysts anticipate that Nordson Co. will post 9.06 EPS for the current year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, May 22nd. This represents a $2.60 annualized dividend and a dividend yield of 1.05%. Nordson’s dividend payout ratio is 29.18%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NDSN shares. StockNews.com upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Robert W. Baird raised their target price on shares of Nordson from $241.00 to $251.00 in a research report on Wednesday, May 24th. KeyCorp raised their target price on shares of Nordson from $255.00 to $270.00 in a research report on Thursday, June 22nd. Finally, Wells Fargo & Company raised their target price on shares of Nordson from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th.

Insider Activity at Nordson

In related news, Director Mary G. Puma sold 2,099 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $245.92, for a total value of $516,186.08. Following the transaction, the director now directly owns 16,835 shares of the company’s stock, valued at approximately $4,140,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

About Nordson

(Free Report)

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 (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS).

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Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

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