Nordson Corporation $NDSN Stock Position Lessened by Korea Investment CORP

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

A number of other institutional investors also recently made changes to their positions in NDSN. NewEdge Advisors LLC raised its position in shares of Nordson by 895.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,582 shares of the industrial products company's stock valued at $1,168,000 after purchasing an additional 5,021 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Nordson in the 4th quarter valued at approximately $372,000. Dimensional Fund Advisors LP raised its position in shares of Nordson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 453,050 shares of the industrial products company's stock valued at $94,797,000 after purchasing an additional 43,556 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Nordson by 1.6% in the 4th quarter. MetLife Investment Management LLC now owns 14,418 shares of the industrial products company's stock valued at $3,017,000 after purchasing an additional 232 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Nordson by 2.2% in the 4th quarter. MML Investors Services LLC now owns 5,636 shares of the industrial products company's stock valued at $1,179,000 after purchasing an additional 122 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on NDSN. Jefferies Financial Group reaffirmed a "hold" rating and issued a $240.00 target price on shares of Nordson in a research report on Thursday, August 21st. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Robert W. Baird upped their price target on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. KeyCorp upped their price target on Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wolfe Research started coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.75.

Nordson Stock Performance

NASDAQ NDSN traded down $1.80 during trading hours on Thursday, hitting $223.88. The company had a trading volume of 37,533 shares, compared to its average volume of 381,209. Nordson Corporation has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $217.27 and a 200-day simple moving average of $206.99. The firm has a market cap of $12.58 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

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 for the quarter, topping 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 firm had revenue of $741.51 million for the quarter, compared to analyst estimates of $724.04 million. During the same period last year, the company earned $2.41 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities analysts predict that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

The firm also recently declared 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 boost 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%.

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.