Nordson Corporation $NDSN Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its position in Nordson Corporation by 2.6% in Q2, now holding 71,238 shares valued at approximately $15.27 million.
• Analysts have raised their price targets for Nordson, with Oppenheimer increasing its target from $260 to $275 and maintaining an "outperform" rating.
• Nordson Corporation announced a quarterly dividend increase from $0.78 to $0.82, with the payment set for September 25th, reflecting a 1.4% dividend yield.

Exchange Traded Concepts LLC cut its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,238 shares of the industrial products company's stock after selling 1,870 shares during the quarter. Exchange Traded Concepts LLC owned about 0.13% of Nordson worth $15,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Nordson by 156.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock worth $205,685,000 after buying an additional 621,734 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Nordson by 118.5% in the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company's stock worth $72,048,000 after buying an additional 182,305 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Nordson in the 1st quarter worth about $29,125,000. Invesco Ltd. boosted its position in shares of Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock worth $210,536,000 after buying an additional 142,991 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Nordson by 19,089.3% in the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock worth $28,606,000 after buying an additional 141,070 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, August 25th. Vertical Research assumed coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price on the stock. Robert W. Baird upped their target price on shares of Nordson from $245.00 to $252.00 and gave the company 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 report on Saturday, August 23rd. Finally, Jefferies Financial Group restated a "hold" rating and issued a $240.00 target price on shares of Nordson in a report on Thursday, August 21st. One equities 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. Based on data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and an average price target of $255.75.

Nordson Trading Down 1.1%

Shares of NDSN stock traded down $2.55 during trading hours on Friday, hitting $225.08. 603,102 shares of the company were exchanged, compared to its average volume of 308,743. The firm has a market cap of $12.65 billion, a PE ratio of 28.28, a PEG ratio of 1.73 and a beta of 0.94. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $219.67 and a 200 day moving average of $208.24.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.10. The business 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. Analysts expect that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 11th. This is an increase from Nordson's previous quarterly dividend of $0.78. Nordson's payout ratio 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.