Russell Investments Group Ltd. Sells 20,866 Shares of Nordson Corporation $NDSN

Key Points

• Russell Investments Group Ltd. reduced its holdings in Nordson Corporation by 30.9% during the 1st quarter, now owning approximately 0.08% of the company, valued at $9.43 million.
• KeyCorp increased its price target for Nordson from $230.00 to $250.00, maintaining an "overweight" rating, while other analysts have mixed ratings ranging from "buy" to "hold."
• Nordson recently reported earnings of $2.42 per share, beating estimates, alongside a revenue of $682.94 million for the quarter, reflecting a year-over-year increase of 5.0%.

Russell Investments Group Ltd. trimmed its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,769 shares of the industrial products company's stock after selling 20,866 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Nordson worth $9,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Lazard Asset Management LLC grew its stake in Nordson by 3.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,561,866 shares of the industrial products company's stock valued at $326,803,000 after buying an additional 47,052 shares in the last quarter. Invesco Ltd. boosted its holdings in 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 purchasing an additional 142,991 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 purchasing an additional 621,734 shares during the period. ProShare Advisors LLC boosted its holdings in Nordson by 0.7% in the 4th quarter. ProShare Advisors LLC now owns 761,233 shares of the industrial products company's stock valued at $159,280,000 after purchasing an additional 4,955 shares during the period. Finally, Northern Trust Corp boosted its holdings in Nordson by 21.8% in the 4th quarter. Northern Trust Corp now owns 508,066 shares of the industrial products company's stock valued at $106,308,000 after purchasing an additional 91,097 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Price Performance

Shares of NASDAQ NDSN traded up $7.24 during mid-day trading on Friday, reaching $227.17. 650,933 shares of the company were exchanged, compared to its average volume of 399,649. Nordson Corporation has a 52 week low of $165.03 and a 52 week high of $266.86. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $12.76 billion, a PE ratio of 28.54, a PEG ratio of 1.73 and a beta of 0.89. The company's 50 day moving average price is $216.63 and its 200 day moving average price is $206.65.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.10. The company 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 firm's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 EPS. Nordson has set its FY 2025 guidance at 10.100- EPS. Sell-side analysts forecast that Nordson Corporation will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a report on Friday. Wall Street Zen raised shares of Nordson from a "hold" rating to a "buy" rating in a report on Saturday. Vertical Research assumed coverage on shares of Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target for the company. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a report on Friday, May 30th. Finally, KeyCorp lifted their price objective on shares of Nordson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Nordson currently has a consensus rating of "Moderate Buy" and an average price target of $255.86.

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.