Magnetar Financial LLC Acquires Shares of 1,622 Nordson Corporation $NDSN

Key Points

• Magnetar Financial LLC has acquired 1,622 shares of Nordson Corporation, valued at approximately $327,000, marking their entry into the company's stock holdings.
• Nordson recently raised its quarterly dividend from $0.78 to $0.82, resulting in an annualized payout of $3.28 and a dividend yield of 1.5%.
• Analysts have generally optimistic ratings on Nordson, with a consensus rating of "Moderate Buy" and an average price target of $255.75.

Magnetar Financial LLC acquired a new stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,622 shares of the industrial products company's stock, valued at approximately $327,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDSN. MassMutual Private Wealth & Trust FSB raised its stake in Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 54 shares in the last quarter. National Pension Service raised its position in shares of Nordson by 74.8% in the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. CX Institutional acquired a new position in shares of Nordson in the 1st quarter valued at $67,000. Finally, Covestor Ltd raised its position in Nordson by 39.4% during the 1st quarter. Covestor Ltd now owns 386 shares of the industrial products company's stock worth $78,000 after buying an additional 109 shares during the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NDSN has been the topic of a number of research reports. Robert W. Baird increased their price objective on shares of Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $240.00 price target on shares of Nordson in a research report on Thursday, August 21st. KeyCorp lifted their price objective on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Wolfe Research began coverage on Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Finally, Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $255.75.

Nordson Price Performance

Shares of NASDAQ:NDSN traded up $4.04 during trading on Thursday, reaching $226.01. 206,836 shares of the company's stock traded hands, compared to its average volume of 367,924. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a 50-day simple moving average of $218.64 and a 200-day simple moving average of $207.32. The firm has a market cap of $12.70 billion, a PE ratio of 28.39, a P/E/G ratio of 1.68 and a beta of 0.94.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.10. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The company had revenue of $741.51 million for the quarter, compared to the consensus estimate of $724.04 million. During the same quarter in the prior year, the business posted $2.41 earnings per share. Nordson's revenue for the quarter was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. As a group, analysts predict that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.5%. This is a boost from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio is 39.20%.

Nordson Profile

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.