Amundi Sells 3,648 Shares of Nordson Corporation $NDSN

Key Points

• Amundi reduced its holdings in Nordson Corporation by 8.6%, selling 3,648 shares and now holding 38,674 shares valued at $7,208,000.
• Nordson's quarterly earnings report showed an EPS of $2.73, exceeding expectations, with a revenue increase of 12.1% year-over-year, totaling $741.51 million for the quarter.
• The company raised its quarterly dividend from $0.78 to $0.82 per share, with a dividend yield of 1.5%, set to be paid on September 25th.

Amundi cut its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,674 shares of the industrial products company's stock after selling 3,648 shares during the quarter. Amundi owned about 0.07% of Nordson worth $7,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Nordson by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after purchasing an additional 67 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Nordson by 18.7% during the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company's stock worth $535,000 after purchasing an additional 418 shares in the last quarter. Amalgamated Bank boosted its position in shares of Nordson by 1.2% during the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company's stock worth $2,153,000 after purchasing an additional 127 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Nordson during the first quarter worth $1,599,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Nordson by 6.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,862 shares of the industrial products company's stock worth $981,000 after purchasing an additional 283 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NDSN. Robert W. Baird lifted their price target on shares of Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Oppenheimer raised their price objective on shares of Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, August 25th. Jefferies Financial Group restated a "hold" rating and set a $240.00 price objective on shares of Nordson in a report on Thursday, August 21st. Vertical Research assumed coverage on shares of Nordson in a report on Tuesday, June 17th. They set 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 report on Saturday, August 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

Nordson Stock Up 0.7%

Shares of NDSN stock opened at $223.72 on Thursday. 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 Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The firm's fifty day moving average price is $219.12 and its two-hundred day moving average price is $207.50. The firm has a market capitalization of $12.57 billion, a P/E ratio of 28.11, a PEG 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, beating the consensus estimate of $2.63 by $0.10. The firm had revenue of $741.51 million for the quarter, compared to analyst estimates of $724.04 million. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, equities 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 paid a dividend of $0.82 per share. The ex-dividend date is Thursday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. This is a boost from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio (DPR) is presently 39.20%.

Nordson Company 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.

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