Bowen Hanes & Co. Inc. Acquires 22,751 Shares of Nordson Corporation $NDSN

Key Points

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Bowen Hanes & Co. Inc. boosted its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 13.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,299 shares of the industrial products company's stock after buying an additional 22,751 shares during the period. Bowen Hanes & Co. Inc. owned approximately 0.35% of Nordson worth $39,799,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NDSN. Massachusetts Financial Services Co. MA lifted its holdings in Nordson by 156.2% in the first 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 period. First Trust Advisors LP lifted its holdings in Nordson by 676.5% in the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after buying an additional 214,594 shares during the period. Nuveen LLC acquired a new position in Nordson in the first quarter valued at approximately $29,125,000. Invesco Ltd. lifted its holdings in Nordson by 15.9% in the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company's stock valued at $210,536,000 after buying an additional 142,991 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Nordson by 19,089.3% in the first 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 period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird increased their target price on shares of Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a report on Friday. KeyCorp increased 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 assumed coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Nordson presently has an average rating of "Moderate Buy" and an average price target of $255.86.

Nordson Stock Up 3.3%

Shares of NDSN stock traded up $7.24 during trading hours on Friday, hitting $227.17. 650,933 shares of the company were exchanged, compared to its average volume of 379,143. The business has a 50 day moving average of $216.63 and a two-hundred day moving average of $206.77. The company has a current ratio of 1.69, a quick ratio of 1.64 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. The company has a market capitalization of $12.84 billion, a PE ratio of 28.54, a PEG ratio of 1.67 and a beta of 0.89.

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 analysts' consensus estimates of $2.63 by $0.10. The business had revenue of $741.51 million during the quarter, compared to the consensus estimate of $724.04 million. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. Nordson has set its FY 2025 guidance at 10.100- EPS. Analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

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