Exchange Traded Concepts LLC Has $15.27 Million Holdings in Nordson Corporation $NDSN

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 decreased its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F 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 reporting period.

Several other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of Nordson during the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after purchasing an additional 89 shares during the period. Harbour Investments Inc. raised its position in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares during the period. National Pension Service raised its position in shares of Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 86 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Nordson by 85.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 217 shares of the industrial products company's stock worth $47,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 72.11% of the company's stock.

Nordson Stock Performance

NASDAQ:NDSN traded up $0.26 during mid-day trading on Monday, hitting $225.34. 226,826 shares of the company's stock traded hands, compared to its average volume of 306,312. The firm has a 50 day moving average of $219.81 and a two-hundred day moving average of $208.27. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94. 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 (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.63 by $0.10. The firm had revenue of $741.51 million during the quarter, compared to analysts' expectations of $724.04 million. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The company's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, equities analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is a boost from Nordson's previous quarterly dividend of $0.78. Nordson's payout ratio is currently 41.21%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NDSN. Wolfe Research initiated coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Oppenheimer upped their price target on Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Vertical Research initiated coverage on Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target on the stock. Finally, Robert W. Baird upped their price target on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

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.