IFM Investors Pty Ltd Boosts Stock Position in Nordson Corporation $NDSN

Key Points

• IFM Investors Pty Ltd increased its stake in Nordson Corporation by 12.3%, owning 11,023 shares valued at approximately $2.36 million as of its latest SEC filing.
• Nordson reported a quarterly earnings per share of $2.73, exceeding analysts' expectations, with revenue of $741.51 million, marking a year-over-year increase of 12.1%.
• The company announced a dividend increase to $0.82 per share, reflecting an annual yield of 1.5%, payable on September 25th, 2023.

IFM Investors Pty Ltd lifted its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 12.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,023 shares of the industrial products company's stock after purchasing an additional 1,205 shares during the period. IFM Investors Pty Ltd's holdings in Nordson were worth $2,363,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in 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 purchasing an additional 621,734 shares in the last quarter. Confluence Investment Management LLC raised its holdings in 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 purchasing an additional 182,305 shares in the last quarter. Nuveen LLC bought a new position in Nordson in the 1st quarter worth $29,125,000. Invesco Ltd. increased its stake 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 acquiring an additional 142,991 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 141,070 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Trading Up 0.1%

Shares of NDSN opened at $225.34 on Tuesday. The company's fifty day moving average is $219.81 and its 200 day moving average is $208.27. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The stock has a market capitalization of $12.66 billion, a PE ratio of 28.31, a P/E/G ratio of 1.71 and a beta of 0.94. 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 (NASDAQ:NDSN - Get Free Report) last announced its quarterly 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 company had revenue of $741.51 million for the quarter, compared to analysts' expectations of $724.04 million. During the same quarter in the previous year, the business posted $2.41 earnings per share. Nordson's quarterly revenue was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. Sell-side analysts expect that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.82 per share. 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. This represents a $3.28 annualized dividend and a yield of 1.5%. Nordson's payout ratio is presently 41.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on NDSN. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Jefferies Financial Group reissued a "hold" rating and set a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Oppenheimer increased their price objective on shares of Nordson from $260.00 to $275.00 and gave the company 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 set a "hold" rating and a $245.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Nordson in a report on Wednesday, June 18th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Nordson has a consensus rating of "Moderate Buy" and an average price target 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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