Alyeska Investment Group L.P. Makes New $25.83 Million Investment in Nordson Corporation $NDSN

Key Points

• Alyeska Investment Group L.P. acquired a new position in Nordson Corporation, purchasing 128,033 shares valued at approximately $25.83 million, representing 0.22% ownership.
• Nordson recently announced a quarterly dividend of $0.82 per share, up from the previous $0.78, with a dividend yield of 1.5% and a payout ratio of 39.20%.
• Analysts have a consensus target price of $255.75 for Nordson Corporation, with ratings ranging from "Strong Buy" to "Hold" reflecting positive market sentiment.

Alyeska Investment Group L.P. acquired a new stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 128,033 shares of the industrial products company's stock, valued at approximately $25,827,000. Alyeska Investment Group L.P. owned approximately 0.22% of Nordson as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in shares of Nordson in the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 purchasing an additional 89 shares during the period. Harbour Investments Inc. increased its holdings in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 54 shares during the period. National Pension Service increased its holdings in shares of Nordson by 74.8% in the first 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 period. Finally, CX Institutional acquired a new position in shares of Nordson in the first quarter valued at about $67,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Vertical Research assumed coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective on the stock. KeyCorp upped their target price on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Oppenheimer upped their target price on Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, August 25th. Finally, Robert W. Baird raised 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

Nordson Stock Performance

Shares of NASDAQ NDSN traded up $1.39 during midday trading on Wednesday, reaching $223.50. 38,445 shares of the stock were exchanged, compared to its average volume of 375,603. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.72 and a beta of 0.94. The firm has a 50-day simple moving average of $219.10 and a two-hundred day simple moving average of $207.39. 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 twelve month low of $165.03 and a twelve month high of $266.86.

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. The company had revenue of $741.51 million for the quarter, compared to the consensus estimate of $724.04 million. Nordson had a return on equity of 19.45% and a net margin of 16.34%.Nordson's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 earnings per share. Nordson has set its FY 2025 guidance at 10.100- EPS. As a group, analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a dividend of $0.82 per share. This is an increase from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 11th. Nordson's dividend payout ratio (DPR) is currently 41.21%.

About Nordson

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.