Nordson Corporation $NDSN Shares Purchased by Royal Bank of Canada

Royal Bank of Canada grew its position in Nordson Corporation (NASDAQ:NDSN - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,284 shares of the industrial products company's stock after purchasing an additional 2,139 shares during the quarter. Royal Bank of Canada owned about 0.26% of Nordson worth $30,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. grew its holdings in Nordson by 36.7% in the first 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. Wedbush Securities Inc. grew its holdings in Nordson by 2.2% in the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company's stock worth $553,000 after purchasing an additional 58 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP grew its holdings in Nordson by 0.6% in the first quarter. Allworth Financial LP now owns 11,327 shares of the industrial products company's stock worth $2,146,000 after purchasing an additional 69 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in Nordson by 1.8% in the first quarter. Aberdeen Group plc now owns 3,986 shares of the industrial products company's stock worth $797,000 after purchasing an additional 70 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Vertical Research assumed coverage on shares of Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price objective on the stock. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Robert W. Baird boosted their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. KeyCorp boosted their price objective on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $240.00 price objective on shares of Nordson in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

Nordson Price Performance

Shares of Nordson stock traded down $4.81 during trading hours on Friday, reaching $223.17. The stock had a trading volume of 195,866 shares, compared to its average volume of 379,533. The stock's 50 day moving average is $219.23 and its 200 day moving average is $207.66. The firm has a market capitalization of $12.54 billion, a PE ratio of 28.04, a PEG ratio of 1.73 and a beta of 0.94. Nordson Corporation has a twelve month low of $165.03 and a twelve month high of $266.86. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

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 for the quarter, topping 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 company's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Nordson has set its FY 2025 guidance at 10.100- EPS. Equities analysts expect that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.28 annualized dividend and a yield of 1.5%. This is a boost from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio is currently 41.21%.

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.