Raymond James Financial Inc. Boosts Stake in Nordson Corporation $NDSN

Key Points

• Raymond James Financial Inc. increased its holdings in Nordson Corporation by 3.9%, acquiring an additional 13,926 shares, bringing their total to approximately 367,609 shares valued at $74.15 million.
• In Q1, several large investors significantly boosted their stakes in Nordson, including Massachusetts Financial Services increasing holdings by 156.2% and GAMMA Investing LLC by an astounding 19,089.3%.
• Nordson Corporation reported better-than-expected earnings of $2.42 per share for the quarter, surpassing the consensus estimate by $0.06, and also announced a quarterly dividend of $0.78 per share.

Raymond James Financial Inc. grew its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,609 shares of the industrial products company's stock after purchasing an additional 13,926 shares during the period. Raymond James Financial Inc. owned about 0.65% of Nordson worth $74,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NDSN. NewEdge Advisors LLC increased its holdings in shares of Nordson by 895.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,582 shares of the industrial products company's stock worth $1,168,000 after purchasing an additional 5,021 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Nordson in the 4th quarter worth $372,000. Canada Pension Plan Investment Board increased its holdings in shares of Nordson by 443.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,255 shares of the industrial products company's stock worth $1,309,000 after purchasing an additional 5,103 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Nordson by 7.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 55,834 shares of the industrial products company's stock worth $11,678,000 after purchasing an additional 3,963 shares in the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of Nordson in the fourth quarter worth $204,000. Institutional investors own 72.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NDSN shares. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective for the company in a report on Friday, May 30th. Robert W. Baird lifted their price objective on Nordson from $245.00 to $252.00 and gave the stock a "neutral" rating in a report on Friday. KeyCorp lifted their price objective on Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wolfe Research started coverage on Nordson in a report on Wednesday, June 18th. They issued a "peer perform" rating for the company. Finally, Vertical Research started coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.86.

Nordson Stock Performance

NASDAQ:NDSN traded up $7.24 during mid-day trading on Friday, hitting $227.17. 650,933 shares of the company traded hands, compared to its average volume of 379,143. The stock's fifty day moving average price is $216.63 and its 200-day moving average price is $206.71. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89.

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

Nordson Dividend Announcement

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