Federation des caisses Desjardins du Quebec Boosts Holdings in Nordson Corporation $NDSN

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Nordson Corporation by 29.8%, owning approximately 31,521 shares valued at $6.36 million.
• Nordson reported quarterly earnings of $2.73 per share, surpassing analysts' expectations, with significant revenue growth of 12.1% year-over-year.
• The company declared a dividend increase to $0.82 per share, up from $0.78, representing an annualized payout of $3.28.

Federation des caisses Desjardins du Quebec grew its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,521 shares of the industrial products company's stock after purchasing an additional 7,242 shares during the period. Federation des caisses Desjardins du Quebec owned approximately 0.06% of Nordson worth $6,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Nordson by 3.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company's stock valued at $540,867,000 after purchasing an additional 90,704 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Nordson by 3.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,561,866 shares of the industrial products company's stock valued at $326,803,000 after acquiring an additional 47,052 shares during the last quarter. Invesco Ltd. lifted its holdings 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 valued at $210,536,000 after acquiring an additional 142,991 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $205,685,000 after acquiring an additional 621,734 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Nordson by 0.7% in the 4th quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock valued at $159,280,000 after acquiring an additional 4,955 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Price Performance

Shares of NDSN stock traded down $4.44 on Tuesday, reaching $221.69. 55,637 shares of the company were exchanged, compared to its average volume of 376,707. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.71 and a beta of 0.94. The business has a 50-day moving average price of $219.07 and a 200 day moving average price of $207.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, topping 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 analysts' expectations of $724.04 million. During the same quarter in the previous year, the company earned $2.41 earnings per share. The company's quarterly revenue was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities research analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a $0.82 dividend. This is a positive change from Nordson's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. Nordson's dividend payout ratio is currently 39.20%.

Analysts Set New Price Targets

NDSN has been the subject of several analyst reports. Oppenheimer raised their price objective on shares of Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, August 25th. Jefferies Financial Group reissued a "hold" rating and set a $240.00 price objective on shares of Nordson in a report on Thursday, August 21st. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Wolfe Research initiated coverage on shares of Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Finally, Vertical Research initiated coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Nordson presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

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.