Kayne Anderson Rudnick Investment Management LLC Raises Stock Position in Nordson Corporation $NDSN

Key Points

• Kayne Anderson Rudnick Investment Management LLC has increased its stake in Nordson Corporation by 3.5%, acquiring an additional 90,704 shares, bringing their total ownership to approximately 2.68 million shares.
• Nordson reported a quarterly EPS of $2.73, surpassing analysts' expectations of $2.63, as well as revenue increasing 12.1% year-over-year to $741.51 million.
• The company announced a quarterly dividend of $0.78, yielding 1.4%, with a payout ratio of 39.20% and an ex-dividend date of June 18.

Kayne Anderson Rudnick Investment Management LLC grew its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,681,273 shares of the industrial products company's stock after acquiring an additional 90,704 shares during the quarter. Nordson comprises about 1.3% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 21st biggest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.71% of Nordson worth $540,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Nordson during the fourth quarter valued at about $372,000. Dimensional Fund Advisors LP lifted its position in Nordson by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 453,050 shares of the industrial products company's stock valued at $94,797,000 after acquiring an additional 43,556 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Nordson by 1.6% in the fourth quarter. MetLife Investment Management LLC now owns 14,418 shares of the industrial products company's stock valued at $3,017,000 after acquiring an additional 232 shares in the last quarter. MML Investors Services LLC grew its holdings in Nordson by 2.2% in the fourth quarter. MML Investors Services LLC now owns 5,636 shares of the industrial products company's stock worth $1,179,000 after purchasing an additional 122 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of Nordson by 119.3% during the fourth quarter. Dark Forest Capital Management LP now owns 2,156 shares of the industrial products company's stock worth $451,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors own 72.11% of the company's stock.

Wall Street Analyst Weigh In

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

Nordson Stock Performance

Nordson stock traded down $1.00 during mid-day trading on Thursday, hitting $224.67. The company had a trading volume of 214,716 shares, compared to its average volume of 382,330. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 1.72 and a beta of 0.89. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company's fifty day moving average is $217.27 and its 200-day moving average is $206.99. 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 earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (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 net margin of 16.34% and a return on equity of 19.45%. The business's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities research analysts predict that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.5%. Nordson's dividend payout ratio (DPR) is 39.20%.

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.