Patton Fund Management Inc. Invests $251,000 in Nordson Corporation $NDSN

Key Points

• Patton Fund Management Inc. invested $251,000 in Nordson Corporation by acquiring 1,170 shares during the second quarter.
• Several institutional investors have increased their holdings in Nordson, with 72.11% of the stock currently owned by them, indicating strong interest in the company.
• Nordson has increased its quarterly dividend from $0.78 to $0.82 per share, representing a 1.4% dividend yield and a payout ratio of 41.21%.

Patton Fund Management Inc. bought a new position in Nordson Corporation (NASDAQ:NDSN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,170 shares of the industrial products company's stock, valued at approximately $251,000.

A number of other large investors have also recently made changes to their positions in the business. Harbour Investments Inc. increased its position in Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 54 shares during the last quarter. Three Seasons Wealth LLC increased its position in 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 acquiring an additional 54 shares during the last quarter. Wedbush Securities Inc. increased its position in 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 acquiring an additional 58 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 67 shares during the last quarter. Finally, Allworth Financial LP increased its position in 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 acquiring an additional 69 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Oppenheimer boosted their price objective on shares of Nordson from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. KeyCorp boosted their price objective on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Robert W. Baird boosted their target price on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Vertical Research initiated coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $255.75.

Nordson Stock Up 2.5%

NASDAQ:NDSN opened at $227.00 on Friday. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The company has a 50-day moving average of $220.49 and a 200 day moving average of $208.72. The firm has a market cap of $12.76 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11.

Nordson (NASDAQ:NDSN - Get Free Report) last released 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. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company had revenue of $741.51 million during the quarter, compared to analyst estimates of $724.04 million. During the same period in the prior year, the firm earned $2.41 earnings per share. The firm's revenue for the quarter 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, research analysts anticipate that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 1.4%. Nordson's payout ratio is currently 41.21%.

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.

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