Allstate Corp Increases Stake 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 raised its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 185.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,692 shares of the industrial products company's stock after buying an additional 3,050 shares during the quarter. Allstate Corp's holdings in Nordson were worth $946,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NDSN. Marshall Wace LLP acquired a new position in Nordson in the 4th quarter valued at $372,000. Dimensional Fund Advisors LP increased its stake in Nordson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 453,050 shares of the industrial products company's stock valued at $94,797,000 after buying an additional 43,556 shares during the period. MetLife Investment Management LLC grew its stake in shares of Nordson by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 14,418 shares of the industrial products company's stock worth $3,017,000 after purchasing an additional 232 shares during the period. MML Investors Services LLC grew its stake in shares of Nordson by 2.2% during the 4th quarter. MML Investors Services LLC now owns 5,636 shares of the industrial products company's stock worth $1,179,000 after purchasing an additional 122 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in shares of Nordson by 119.3% during the 4th quarter. Dark Forest Capital Management LP now owns 2,156 shares of the industrial products company's stock worth $451,000 after purchasing an additional 1,173 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NDSN. Jefferies Financial Group reaffirmed a "hold" rating and set a $240.00 price target on shares of Nordson in a research note on Thursday, August 21st. Wolfe Research began coverage on shares of Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating on the stock. Robert W. Baird upped their price target 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. Vertical Research began coverage on shares of Nordson in a research report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

Nordson Trading Down 0.4%

Shares of Nordson stock traded down $1.00 during mid-day trading on Thursday, hitting $224.67. 214,716 shares of the stock were exchanged, compared to its average volume of 382,330. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89. The company has a 50-day simple moving average of $217.27 and a 200 day simple moving average of $206.99. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $724.04 million. During the same period last year, the company earned $2.41 EPS. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. Nordson has set its FY 2025 guidance at 10.100- EPS. Research analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.82 per share. This is a boost from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. Nordson's dividend payout ratio (DPR) is currently 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.