Nordson Corporation $NDSN Shares Sold by Goldman Sachs Group Inc.

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. lowered its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,024,401 shares of the industrial products company's stock after selling 142,557 shares during the quarter. Goldman Sachs Group Inc. owned 1.81% of Nordson worth $206,642,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Nordson in the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its position in 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 purchasing an additional 89 shares in the last quarter. Harbour Investments Inc. increased its position in 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 purchasing an additional 54 shares in the last quarter. National Pension Service increased its position in Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 86 shares in the last quarter. Finally, CX Institutional purchased a new stake in Nordson during the 1st quarter worth about $67,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Oppenheimer lifted their price objective on Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, August 25th. Jefferies Financial Group reiterated a "hold" rating and set a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Vertical Research started coverage on Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective for the company. Finally, Wolfe Research started coverage on Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

Nordson Trading Up 0.1%

Shares of NASDAQ:NDSN traded up $0.21 during trading on Tuesday, reaching $226.13. 306,173 shares of the stock were exchanged, compared to its average volume of 381,121. 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 12-month low of $165.03 and a 12-month high of $266.86. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94. The firm's 50-day moving average price is $219.47 and its 200 day moving average price is $207.86.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.10. The business 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 previous year, the business earned $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, sell-side analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.82 per share. This is a boost 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 yield of 1.5%. Nordson's dividend payout ratio is presently 41.21%.

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.