Assenagon Asset Management S.A. Boosts Stock Holdings in Nordson Corporation $NDSN

Key Points

• Assenagon Asset Management S.A. nearly doubled its Nordson stake in the first quarter, buying 17,939 additional shares and ending with 36,160 shares worth about $9.62 million.
• Several other institutional investors also increased exposure to Nordson, while insiders sold shares; EVP Justin E. Hall and EVP Srinivas Subramanian both trimmed their holdings in April.
• Nordson reported better-than-expected quarterly results and raised guidance, and analysts remain moderately bullish with a consensus Moderate Buy rating and average price target of $311.29.

Assenagon Asset Management S.A. grew its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 98.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,160 shares of the industrial products company's stock after acquiring an additional 17,939 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Nordson worth $9,621,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Nordson in the 4th quarter valued at $191,654,000. M&T Bank Corp lifted its stake in shares of Nordson by 10,127.9% in the fourth quarter. M&T Bank Corp now owns 586,877 shares of the industrial products company's stock worth $141,103,000 after buying an additional 581,139 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Nordson by 61.9% in the third quarter. Millennium Management LLC now owns 592,385 shares of the industrial products company's stock worth $134,442,000 after buying an additional 226,514 shares in the last quarter. Jennison Associates LLC boosted its position in Nordson by 539.2% during the fourth quarter. Jennison Associates LLC now owns 252,353 shares of the industrial products company's stock worth $60,673,000 after acquiring an additional 212,876 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Nordson by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 6,257,600 shares of the industrial products company's stock worth $1,504,515,000 after acquiring an additional 186,480 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nordson

In related news, EVP Justin E. Hall sold 716 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $275.82, for a total transaction of $197,487.12. Following the completion of the transaction, the executive vice president owned 1,515 shares of the company's stock, valued at approximately $417,867.30. This trade represents a 32.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Srinivas Subramanian sold 3,100 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $280.00, for a total value of $868,000.00. Following the transaction, the executive vice president owned 6,407 shares in the company, valued at $1,793,960. This trade represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Oppenheimer increased their price objective on shares of Nordson from $325.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 29th. DA Davidson boosted their target price on Nordson from $335.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a research report on Saturday. BNP Paribas Exane increased their price target on Nordson from $285.00 to $290.00 and gave the company a "neutral" rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded Nordson from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $311.29.

Nordson Price Performance

NASDAQ:NDSN opened at $301.47 on Monday. Nordson Corporation has a 52 week low of $207.08 and a 52 week high of $307.74. The company has a quick ratio of 1.65, a current ratio of 2.60 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $16.80 billion, a P/E ratio of 32.14, a P/E/G ratio of 2.00 and a beta of 0.97. The stock's fifty day moving average is $285.79 and its two-hundred day moving average is $274.28.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.04. Nordson had a return on equity of 20.08% and a net margin of 18.19%.The firm had revenue of $740.85 million during the quarter, compared to the consensus estimate of $728.78 million. During the same period last year, the company earned $2.42 EPS. The company's quarterly revenue was up 8.5% on a year-over-year basis. Nordson has set its Q3 2026 guidance at 2.950-3.150 EPS and its FY 2026 guidance at 11.300-11.800 EPS. Equities analysts expect that Nordson Corporation will post 11.59 EPS for the current year.

Nordson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Thursday, June 18th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 18th. Nordson's payout ratio is 34.97%.

Nordson Profile

Nordson Corporation designs, manufactures and markets precision dispensing equipment and systems that apply adhesives, coatings, sealants and polymers in a broad range of industrial and medical applications. The company's portfolio spans fluid systems, curing and surface preparation technologies, vacuum and thermal management products, and advanced test and inspection solutions. Nordson's offerings serve critical manufacturing processes by delivering exacting dispensing accuracy and process control to ensure consistent product performance and high production throughput.

Nordson operates through multiple segments that cater to diverse markets including electronics, packaging, medical, energy, automotive and general industrial sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.