State Board of Administration of Florida Retirement System Trims Stake in Nordson Co. (NASDAQ:NDSN)

State Board of Administration of Florida Retirement System lessened its holdings in shares of Nordson Co. (NASDAQ:NDSNFree Report) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 58,554 shares of the industrial products company’s stock after selling 4,560 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Nordson were worth $13,067,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in Nordson by 2.2% in the 2nd quarter. Cerity Partners LLC now owns 1,911 shares of the industrial products company’s stock valued at $474,000 after purchasing an additional 42 shares in the last quarter. Huntington National Bank raised its holdings in shares of Nordson by 1.9% during the second quarter. Huntington National Bank now owns 2,471 shares of the industrial products company’s stock valued at $613,000 after buying an additional 46 shares during the last quarter. Ieq Capital LLC increased its stake in shares of Nordson by 3.6% during the third quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 48 shares during the period. Fifth Third Bancorp increased its stake in shares of Nordson by 5.5% during the third quarter. Fifth Third Bancorp now owns 992 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 52 shares during the period. Finally, Studio Investment Management LLC grew its position in Nordson by 3.8% in the fourth quarter. Studio Investment Management LLC now owns 1,428 shares of the industrial products company’s stock worth $339,000 after buying an additional 52 shares during the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

Nordson Price Performance

Shares of NDSN stock opened at $264.76 on Tuesday. Nordson Co. has a 1 year low of $202.57 and a 1 year high of $266.51. The firm’s 50 day moving average is $253.31 and its 200-day moving average is $238.65. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.01 and a beta of 1.00. The company has a current ratio of 2.11, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63.

Nordson (NASDAQ:NDSNGet Free Report) last issued its earnings results on Thursday, December 14th. The industrial products company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. Nordson had a net margin of 18.55% and a return on equity of 20.56%. The firm had revenue of $719.00 million during the quarter, compared to the consensus estimate of $706.19 million. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Nordson Co. will post 10.08 EPS for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, February 16th. Nordson’s payout ratio is 32.15%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.83.

Check Out Our Latest Analysis on NDSN

Insider Buying and Selling

In other news, EVP Stephen Lovass sold 221 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $232.59, for a total value of $51,402.39. Following the completion of the transaction, the executive vice president now directly owns 8,868 shares in the company, valued at approximately $2,062,608.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Stephen Lovass sold 221 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $232.59, for a total value of $51,402.39. Following the sale, the executive vice president now directly owns 8,868 shares of the company’s stock, valued at approximately $2,062,608.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph P. Kelley sold 2,800 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $260.25, for a total transaction of $728,700.00. Following the transaction, the executive vice president now directly owns 9,782 shares in the company, valued at $2,545,765.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,334 shares of company stock valued at $2,127,529. Company insiders own 0.86% of the company’s stock.

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; Medical and Fluid Solutions; and Advanced Technology Solutions.

Further Reading

Want to see what other hedge funds are holding NDSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordson Co. (NASDAQ:NDSNFree Report).

Institutional Ownership by Quarter for Nordson (NASDAQ:NDSN)

Receive News & Ratings for Nordson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordson and related companies with MarketBeat.com's FREE daily email newsletter.