Mirae Asset Global Investments Co. Ltd. Acquires 1,389 Shares of Nordson Corporation $NDSN

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Nordson Corporation by 13.8%, acquiring an additional 1,389 shares, bringing its total holdings to 11,463 shares valued at approximately $2.46 million.
• Nordson reported a quarterly EPS of $2.73, beating estimates and marking a year-over-year revenue increase of 12.1%, with anticipated FY 2025 earnings guidance set at $10.10 per share.
• The company announced an increase in its quarterly dividend to $0.82 per share, reflecting a yield of 1.4% and a payout ratio of 41.21%.

Mirae Asset Global Investments Co. Ltd. grew its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,463 shares of the industrial products company's stock after purchasing an additional 1,389 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Nordson were worth $2,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harbour Investments Inc. grew its position in Nordson by 36.7% in the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares during the last quarter. Three Seasons Wealth LLC increased its position in shares of Nordson by 3.0% during the second quarter. Three Seasons Wealth LLC now owns 1,844 shares of the industrial products company's stock valued at $397,000 after purchasing an additional 54 shares during the period. Wedbush Securities Inc. increased its position in shares of Nordson by 2.2% during the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company's stock valued at $553,000 after purchasing an additional 58 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Nordson by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock valued at $486,000 after purchasing an additional 67 shares during the period. Finally, Allworth Financial LP increased its position in shares of Nordson by 0.6% during the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock valued at $2,146,000 after purchasing an additional 69 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Down 1.4%

Shares of NASDAQ NDSN opened at $230.85 on Wednesday. The stock has a market cap of $12.97 billion, a PE ratio of 29.00, a PEG ratio of 1.78 and a beta of 0.96. 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 Corporation has a 52-week low of $165.03 and a 52-week high of $266.86. The business has a fifty day moving average of $222.12 and a two-hundred day moving average of $209.88.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.10. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $741.51 million for the quarter, compared to analyst estimates of $724.04 million. During the same quarter in the prior year, the firm earned $2.41 EPS. The company's revenue was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. As a group, equities research 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 was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.28 annualized dividend and a yield of 1.4%. This is a positive change from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio (DPR) is currently 41.21%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NDSN. Oppenheimer boosted their price objective on Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Robert W. Baird boosted their price objective on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $240.00 price target on shares of Nordson in a research report on Thursday, August 21st. KeyCorp increased 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, Weiss Ratings reissued a "hold (c)" rating on shares of Nordson in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus 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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