Allstate Corp Increases Stock Holdings in Nordson Corporation $NDSN

Key Points

• Allstate Corp significantly increased its stake in Nordson Corporation by 185.7% during the first quarter, holding a total of 4,692 shares valued at $946,000 by the end of the reporting period.
• Nordson reported a strong earnings performance with earnings of $2.73 per share, exceeding expectations and showcasing a 12.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.78 per share, representing an annual yield of 1.4%, with a payout ratio of 39.20%.

Allstate Corp boosted its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 185.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,692 shares of the industrial products company's stock after purchasing an additional 3,050 shares during the quarter. Allstate Corp's holdings in Nordson were worth $946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after acquiring an additional 89 shares during the last quarter. Harbour Investments Inc. raised its stake in Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after buying an additional 54 shares during the period. National Pension Service raised its stake in Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after buying an additional 86 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Nordson in the 4th quarter valued at about $62,000. Finally, CX Institutional acquired a new stake in shares of Nordson in the 1st quarter valued at about $67,000. Institutional investors own 72.11% of the company's stock.

Analyst Ratings Changes

NDSN has been the subject of a number of research analyst reports. Vertical Research began coverage on Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Robert W. Baird raised their target price on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. KeyCorp raised their price target on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wolfe Research assumed coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Nordson currently has an average rating of "Moderate Buy" and an average price target of $255.75.

Nordson Stock Performance

NDSN traded up $0.42 during trading on Friday, hitting $225.09. The company's stock had a trading volume of 282,203 shares, compared to its average volume of 398,565. The business's 50 day simple moving average is $217.80 and its 200-day simple moving average is $207.05. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm has a market cap of $12.65 billion, a PE ratio of 28.28, a P/E/G ratio of 1.71 and a beta of 0.89. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86.

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

Nordson Increases Dividend

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