Assenagon Asset Management S.A. Acquires 53,875 Shares of Nordson Corporation $NDSN

Key Points

• Assenagon Asset Management increased its Nordson stake by 320.1%, acquiring 53,875 additional shares for a total holding of 70,706 shares valued at approximately $23.2 million. Institutional investors now own 72.11% of the company.
• Analyst sentiment remains positive, with five Buy ratings and three Holds giving Nordson a consensus “Moderate Buy” rating and an average price target of $326.57; Oppenheimer raised its target to $370.
• Nordson exceeded quarterly expectations with $3.25 in EPS and $817.67 million in revenue, while revenue rose 10.3% year over year. The company also increased its quarterly dividend to $0.94, equivalent to a 1.2% annual yield.

Assenagon Asset Management S.A. boosted its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 320.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,706 shares of the industrial products company's stock after acquiring an additional 53,875 shares during the period. Assenagon Asset Management S.A. owned 0.13% of Nordson worth $23,181,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Curated Wealth Partners LLC purchased a new stake in Nordson in the third quarter worth about $209,000. WealthPlan Investment Management LLC bought a new position in Nordson during the 3rd quarter valued at approximately $215,000. Ashurst Perkins Coie Trust Co bought a new position in Nordson during the 3rd quarter valued at approximately $68,000. Mather Group LLC. raised its stake in Nordson by 3.3% during the third quarter. Mather Group LLC. now owns 1,125 shares of the industrial products company's stock valued at $369,000 after buying an additional 36 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in Nordson by 207.0% during the third quarter. Fortitude Family Office LLC now owns 132 shares of the industrial products company's stock valued at $43,000 after buying an additional 89 shares during the last quarter. Institutional investors own 72.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Weiss Ratings raised Nordson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, September 2nd. Oppenheimer upped their price target on shares of Nordson from $335.00 to $370.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. KeyCorp reaffirmed a "buy" rating on shares of Nordson in a report on Thursday, August 20th. Finally, Robert W. Baird lifted their target price on shares of Nordson from $328.00 to $351.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $326.57.

Nordson Price Performance

NASDAQ NDSN opened at $322.31 on Monday. Nordson Corporation has a one year low of $223.29 and a one year high of $339.12. The stock has a 50-day moving average of $321.12 and a 200 day moving average of $298.85. The company has a market capitalization of $17.95 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.09 and a beta of 0.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.82.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, August 19th. The industrial products company reported $3.25 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.16. The business had revenue of $817.67 million during the quarter, compared to analyst estimates of $779.49 million. Nordson had a return on equity of 20.49% and a net margin of 18.63%. Nordson's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.73 EPS. Nordson has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts forecast that Nordson Corporation will post 11.86 EPS for the current year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Thursday, September 10th were paid a $0.94 dividend. This is a boost from Nordson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 10th. Nordson's dividend payout ratio (DPR) is presently 38.02%.

Insider Activity

In other news, CAO Joseph M. Rutledge sold 684 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $309.38, for a total transaction of $211,615.92. Following the completion of the transaction, the chief accounting officer directly owned 2,134 shares of the company's stock, valued at $660,216.92. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer McDonough sold 260 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $336.00, for a total transaction of $87,360.00. Following the transaction, the executive vice president owned 6,346 shares in the company, valued at approximately $2,132,256. This trade represents a 3.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,273 shares of company stock valued at $743,247 over the last three months. Insiders own 0.84% of the company's stock.

Nordson Profile

Nordson Corporation NASDAQ: NDSN is a global manufacturer of precision dispensing, fluid management, and inspection equipment. The company develops systems used to apply adhesives, coatings, sealants, polymers, and other materials with controlled precision in manufacturing and production processes.

Nordson's products include hot-melt and liquid adhesive dispensing systems, industrial coating equipment, pumps, valves, tubing, and related components. It also provides equipment and technologies for testing, inspection, and the management of fluids and materials.

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