California Public Employees Retirement System reduced its stake in Nordson Corporation (NASDAQ:NDSN) by 8.4% during the first quarter, Holdings Channel reports. The institutional investor owned 122,400 shares of the industrial products company’s stock after selling 11,200 shares during the period. California Public Employees Retirement System’s holdings in Nordson Corporation were worth $15,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDSN. TIAA CREF Investment Management LLC raised its position in shares of Nordson Corporation by 26.7% in the first quarter. TIAA CREF Investment Management LLC now owns 241,464 shares of the industrial products company’s stock valued at $29,661,000 after buying an additional 50,881 shares during the period. Teachers Advisors LLC raised its position in shares of Nordson Corporation by 17.2% in the first quarter. Teachers Advisors LLC now owns 79,096 shares of the industrial products company’s stock valued at $9,716,000 after buying an additional 11,634 shares during the period. Advantus Capital Management Inc raised its position in shares of Nordson Corporation by 3.7% in the first quarter. Advantus Capital Management Inc now owns 6,852 shares of the industrial products company’s stock valued at $842,000 after buying an additional 242 shares during the period. FMR LLC acquired a new position in shares of Nordson Corporation during the first quarter valued at about $44,110,000. Finally, TLP Group LLC acquired a new position in shares of Nordson Corporation during the first quarter valued at about $387,000. Institutional investors own 66.39% of the company’s stock.

Institutional Ownership by Quarter for Nordson Corporation (NASDAQ:NDSN)

Shares of Nordson Corporation (NASDAQ NDSN) traded up 0.91% during mid-day trading on Monday, hitting $118.78. The company had a trading volume of 85,216 shares. The firm has a 50-day moving average price of $122.76 and a 200 day moving average price of $118.68. Nordson Corporation has a 52-week low of $78.16 and a 52-week high of $131.49. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 25.04 and a beta of 1.28.

Nordson Corporation (NASDAQ:NDSN) last posted its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The firm had revenue of $496.14 million during the quarter, compared to analysts’ expectations of $470.12 million. Nordson Corporation had a net margin of 14.43% and a return on equity of 33.39%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Analysts expect that Nordson Corporation will post $5.40 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Tuesday, May 30th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, May 25th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. Nordson Corporation’s payout ratio is currently 22.78%.

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Several research analysts have issued reports on the company. Zacks Investment Research upgraded Nordson Corporation from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Wednesday, April 26th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Nordson Corporation in a research report on Tuesday, February 28th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $130.00 target price (up previously from $122.00) on shares of Nordson Corporation in a research report on Thursday, May 25th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Nordson Corporation has a consensus rating of “Hold” and a consensus target price of $115.50.

About Nordson Corporation

Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.

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