Korea Investment CORP Sells 8,388 Shares of Nordson Corporation $NDSN

Key Points

• Korea Investment CORP decreased its holdings in Nordson Corporation by 21.9%, owning 29,927 shares valued at approximately $6.04 million as of its latest SEC filing.
• Several other institutional investors have increased their stakes in Nordson, with Harbour Investments Inc. boosting its holdings by 36.7% during the same quarter.
• Nordson reported better-than-expected earnings with $2.73 EPS for the last quarter, surpassing estimates and indicating a 12.1% increase in revenue compared to the previous year.

Korea Investment CORP decreased its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,927 shares of the industrial products company's stock after selling 8,388 shares during the quarter. Korea Investment CORP owned 0.05% of Nordson worth $6,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position 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 valued at $39,000 after acquiring an additional 89 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 54 shares in the last quarter. National Pension Service lifted its holdings in shares of Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 86 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nordson during the fourth quarter valued at $62,000. Finally, CX Institutional bought a new stake in Nordson in the 1st quarter worth about $67,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NDSN. Oppenheimer boosted their target price on Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday. KeyCorp raised their target price on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wolfe Research started coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Finally, Robert W. Baird increased their price target on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.75.

Nordson Stock Performance

Shares of NASDAQ:NDSN traded up $0.56 during midday trading on Tuesday, hitting $226.35. The company had a trading volume of 607,286 shares, compared to its average volume of 384,207. Nordson Corporation has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a fifty day moving average of $216.78 and a two-hundred day moving average of $206.73. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11.

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

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were paid a dividend of $0.78 per share. The ex-dividend date was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. Nordson's payout ratio 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.