Kayne Anderson Rudnick Investment Management LLC Raises Stake 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 lifted its stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,681,273 shares of the industrial products company's stock after purchasing an additional 90,704 shares during the quarter. Nordson accounts for about 1.3% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 21st largest position. Kayne Anderson Rudnick Investment Management LLC owned about 4.71% of Nordson worth $540,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted 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 buying an additional 89 shares during the period. Harbour Investments Inc. boosted 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 buying an additional 54 shares during the period. National Pension Service boosted 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 buying an additional 86 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Nordson during the 4th quarter worth approximately $62,000. Finally, CX Institutional acquired a new stake in Nordson during the 1st quarter worth approximately $67,000. 72.11% of the stock is owned by institutional investors.

Nordson Stock Up 0.3%

NDSN stock traded up $0.57 during midday trading on Friday, reaching $225.24. 102,615 shares of the company's stock traded hands, compared to its average volume of 380,586. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 1.71 and a beta of 0.89. The firm's fifty day moving average price is $217.49 and its 200-day moving average price is $207.05. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.10. The business had revenue of $741.51 million during the quarter, compared to analyst estimates of $724.04 million. Nordson had a net margin of 16.34% and a return on equity of 19.45%. Nordson's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. As a group, sell-side analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The company also recently announced 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. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. Nordson's dividend payout ratio is presently 39.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target on the stock. Oppenheimer boosted their price target on shares of Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday. KeyCorp boosted their price target on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wolfe Research initiated coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. One investment 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 MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $255.75.

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.