Goldman Sachs Group Inc. Lowers Position in Nordson Corporation $NDSN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Nordson Corporation by 12.2%, selling 142,557 shares and now holding about 1.81% of the company's stock.
• Nordson Corporation recently reported earnings of $2.73 per share, exceeding estimates, with quarterly revenue rising by 12.1% year-over-year to $741.51 million.
• The company announced an increase in its quarterly dividend from $0.78 to $0.82 per share, reflecting a positive change in its payout strategy.

Goldman Sachs Group Inc. reduced its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024,401 shares of the industrial products company's stock after selling 142,557 shares during the period. Goldman Sachs Group Inc. owned about 1.81% of Nordson worth $206,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Nordson in the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Nordson by 86.4% in the 1st 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 holdings in Nordson by 36.7% in the 1st 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 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 acquiring an additional 86 shares during the period. Finally, CX Institutional purchased a new position in shares of 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 0.7%

NASDAQ NDSN opened at $223.72 on Thursday. 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 firm has a market cap of $12.57 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.68 and a beta of 0.94. The firm has a 50 day simple moving average of $219.12 and a 200-day simple moving average of $207.50. 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 announced its earnings results 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. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $741.51 million for the quarter, compared to the consensus estimate of $724.04 million. During the same period in the prior year, the firm earned $2.41 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities research analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.5%. 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. Nordson's payout ratio is presently 39.20%.

Analyst Ratings Changes

NDSN has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Wolfe Research started coverage on Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating for the company. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. KeyCorp upped their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target for the company. 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, the stock has an average 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.

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