Confluence Investment Management LLC Acquires 182,305 Shares of Nordson Corporation $NDSN

Key Points

• Confluence Investment Management LLC increased its stake in Nordson Corporation by 118.5%, acquiring an additional 182,305 shares in the second quarter.
• Nordson's quarterly earnings report revealed $2.73 earnings per share, exceeding expectations and reflecting a 12.1% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $0.82, raising it from a previous $0.78, representing a 1.5% dividend yield.

Confluence Investment Management LLC grew its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 118.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336,090 shares of the industrial products company's stock after purchasing an additional 182,305 shares during the period. Confluence Investment Management LLC owned about 0.59% of Nordson worth $72,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Nordson during the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after acquiring an additional 89 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after acquiring an additional 54 shares in the last quarter. National Pension Service boosted its position in 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 buying an additional 86 shares in the last quarter. Finally, CX Institutional acquired a new stake in Nordson in the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Trading Up 1.6%

Shares of NDSN stock traded up $3.51 on Thursday, hitting $227.15. 82,666 shares of the company's stock traded hands, compared to its average volume of 373,852. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The company's fifty day simple moving average is $219.50 and its 200 day simple moving average is $207.97. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts' consensus estimates of $2.63 by $0.10. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The business had revenue of $741.51 million during the quarter, compared to analyst estimates of $724.04 million. During the same period last year, the business earned $2.41 EPS. Nordson's revenue was up 12.1% compared to the same quarter last year. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.4%. Nordson's payout ratio is 41.21%.

Analyst Ratings Changes

Several research firms have weighed in on NDSN. Jefferies Financial Group reaffirmed a "hold" rating and issued a $240.00 price target on shares of Nordson in a research note on Thursday, August 21st. Vertical Research began coverage on shares of Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Robert W. Baird boosted their price target on shares of Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, KeyCorp upped their price target on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. One 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $255.75.

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.