Northern Trust Corp Sells 6,521 Shares of Nordson Corporation $NDSN

Key Points

• Northern Trust Corp reduced its holdings in Nordson Corporation by 1.3%, selling 6,521 shares, resulting in ownership of 501,545 shares valued at approximately $101 million.
• Nordson reported earnings per share of $2.73 for its latest quarter, surpassing the expected $2.63, and noted a 12.1% year-over-year revenue increase to $741.51 million.
• The company declared a quarterly dividend of $0.78 per share, representing an annual dividend yield of 1.4% with a payout ratio of 39.20%.

Northern Trust Corp cut its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 501,545 shares of the industrial products company's stock after selling 6,521 shares during the period. Northern Trust Corp owned about 0.88% of Nordson worth $101,172,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 89 shares during the period. Harbour Investments Inc. boosted its holdings in shares of 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 buying an additional 54 shares during the last quarter. National Pension Service grew its position in Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock valued at $41,000 after buying an additional 86 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Nordson during the fourth quarter worth about $62,000. Finally, CX Institutional bought a new stake in Nordson in the first quarter worth about $67,000. 72.11% of the stock is currently owned by institutional investors.

Nordson Trading Up 3.3%

Shares of NDSN stock opened at $227.17 on Friday. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.73 and a beta of 0.89. The company's fifty day simple moving average is $216.63 and its two-hundred day simple moving average is $206.71. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.64.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share for the quarter, beating 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 company had revenue of $741.51 million during the quarter, compared to analysts' expectations of $724.04 million. During the same period in the previous year, the business earned $2.41 earnings per share. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. Nordson has set its FY 2025 guidance at 10.100- EPS. As a group, analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, June 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. Nordson's dividend payout ratio is currently 39.20%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NDSN. Vertical Research started coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. Robert W. Baird increased their price objective on Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday. KeyCorp raised their target price on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wolfe Research initiated coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Finally, Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Nordson has a consensus rating of "Moderate Buy" and an average target price of $255.86.

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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