Stoneridge Investment Partners LLC Has $670,000 Holdings in Nordson Corporation $NDSN

Key Points

• Stoneridge Investment Partners LLC reduced its holdings in Nordson Corporation by 44.6%, owning 3,321 shares after selling 2,675 shares during the first quarter.
• Nordson Corporation reported $2.42 earnings per share (EPS) for the quarter, exceeding analysts' expectations of $2.36, with a 5.0% increase in quarterly revenue compared to the previous year.
• Several institutional investors have increased their stakes in Nordson, with 72.11% of the stock now owned by such investors, signaling confidence in the company.

Stoneridge Investment Partners LLC trimmed its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 44.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the industrial products company's stock after selling 2,675 shares during the period. Stoneridge Investment Partners LLC's holdings in Nordson were worth $670,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Nordson by 156.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after buying an additional 621,734 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Nordson by 676.5% in the 4th quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after acquiring an additional 214,594 shares during the period. Nuveen LLC purchased a new stake in shares of Nordson during the first quarter valued at approximately $29,125,000. Invesco Ltd. grew its stake in Nordson by 15.9% during the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock valued at $210,536,000 after purchasing an additional 142,991 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Nordson by 19,089.3% in the 1st quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company's stock worth $28,606,000 after purchasing an additional 141,070 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company's stock.

Analysts Set New Price Targets

NDSN has been the topic of several research reports. Wolfe Research started coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Robert W. Baird raised their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research note on Friday. Vertical Research assumed coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price on the stock. KeyCorp boosted their price objective on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen lowered Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $255.86.

Nordson Price Performance

NASDAQ NDSN traded up $7.24 during trading on Friday, reaching $227.17. 650,933 shares of the company traded hands, compared to its average volume of 379,143. The stock's 50 day moving average price is $216.63 and its two-hundred day moving average price is $206.77. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.67 and a beta of 0.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.64 and a current ratio of 1.69.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $724.04 million. During the same period last year, the business earned $2.41 earnings per share. The business'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, analysts anticipate that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were paid a $0.78 dividend. 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 40.10%.

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.