Summit Financial LLC Invests $707,000 in Nordson Corporation $NDSN

Key Points

• Summit Financial LLC acquired 3,505 shares of Nordson Corporation, valued at approximately $707,000, as part of their new stake in the company for the first quarter.
• Analysts have shown optimism towards Nordson, with Oppenheimer upgrading the company to "outperform" and setting a price target of $260.00, while the stock has an average rating of "Moderate Buy" with a consensus target price of $255.86.
• Nordson reported a 12.1% year-over-year revenue increase for the last quarter, posting earnings of $2.73 per share and beating estimates, while also maintaining a quarterly dividend of $0.78 per share.

Summit Financial LLC purchased a new stake in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,505 shares of the industrial products company's stock, valued at approximately $707,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its position in Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares during the period. Harbour Investments Inc. increased its position in 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 purchasing an additional 54 shares during the last quarter. National Pension Service increased its position in Nordson by 74.8% in the 1st quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Nordson in the 4th quarter worth about $62,000. Finally, CX Institutional acquired a new position in Nordson in the 1st quarter worth about $67,000. 72.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NDSN. Wolfe Research began coverage on Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. KeyCorp upped 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. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Oppenheimer upped their target price on Nordson from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, 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, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

Nordson Stock Performance

NASDAQ:NDSN traded up $0.89 during mid-day trading on Friday, hitting $225.56. 60,833 shares of the company's stock traded hands, compared to its average volume of 380,302. The firm has a 50 day moving average of $217.49 and a two-hundred day moving average of $207.05. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its 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 firm had revenue of $741.51 million during the quarter, compared to the consensus estimate of $724.04 million. During the same quarter in the prior year, the company earned $2.41 EPS. 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. On average, equities analysts forecast 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. Investors of record on Thursday, September 11th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.5%. This is an increase from Nordson's previous quarterly dividend of $0.78. Nordson's dividend payout ratio (DPR) is 39.20%.

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.