Piscataqua Savings Bank Purchases 1,500 Shares of Nordson Corporation $NDSN

Key Points

• Piscataqua Savings Bank increased its stake in Nordson Corporation by 9.6% during Q2, now owning a total of 17,202 shares valued at approximately $3.7 million, making Nordson its 5th largest holding.
• A range of analysts have lifted Nordson's price targets, predicting an average target price of $255.75 and giving it an average rating of "Moderate Buy," with several upgrades noted in recent months.
• Nordson recently announced a dividend increase to $0.82 per share, representing an annual yield of 1.4%, which reflects positive outlook amidst strong quarterly performance.

Piscataqua Savings Bank raised its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,202 shares of the industrial products company's stock after acquiring an additional 1,500 shares during the quarter. Nordson comprises approximately 3.1% of Piscataqua Savings Bank's holdings, making the stock its 5th largest position. Piscataqua Savings Bank's holdings in Nordson were worth $3,688,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Nordson by 3.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company's stock worth $540,867,000 after buying an additional 90,704 shares during the period. Invesco Ltd. raised its stake in shares of Nordson by 15.9% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nordson by 156.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Nordson by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 470,997 shares of the industrial products company's stock valued at $95,010,000 after buying an additional 11,287 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Nordson by 3.9% in the 1st quarter. Raymond James Financial Inc. now owns 367,609 shares of the industrial products company's stock valued at $74,154,000 after buying an additional 13,926 shares in the last quarter. 72.11% of the stock is owned by institutional investors.

Nordson Trading Down 1.1%

Shares of NASDAQ NDSN traded down $2.55 during mid-day trading on Friday, hitting $225.08. The company's stock had a trading volume of 603,102 shares, compared to its average volume of 308,743. The company's fifty day simple moving average is $219.67 and its 200-day simple moving average is $208.22. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.71 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 the consensus estimate of $2.63 by $0.10. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The business had revenue of $741.51 million for the quarter, compared to analyst estimates of $724.04 million. During the same quarter last year, the firm earned $2.41 EPS. Nordson'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. On average, sell-side analysts anticipate that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.82 per share. This is an increase from Nordson's previous quarterly dividend of $0.78. The ex-dividend date is Thursday, September 11th. This represents a $3.28 annualized dividend and a yield of 1.5%. Nordson's dividend payout ratio is 41.21%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NDSN. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. KeyCorp upped 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. Robert W. Baird upped 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, August 22nd. Wolfe Research initiated coverage on shares of Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Finally, Vertical Research initiated 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. One equities research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $255.75.

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.