StockNews.com upgraded shares of Nordson (NASDAQ:NDSN – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
NDSN has been the topic of several other research reports. DA Davidson raised their price target on shares of Nordson from $265.00 to $270.00 in a research report on Tuesday, August 23rd. Robert W. Baird lifted their target price on shares of Nordson from $232.00 to $271.00 and gave the company an outperform rating in a research report on Wednesday, August 24th. Finally, Morgan Stanley dropped their target price on shares of Nordson from $270.00 to $250.00 and set an equal weight rating on the stock in a research report on Thursday, June 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Nordson has an average rating of Moderate Buy and a consensus target price of $270.20.
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Nordson Stock Down 0.7 %
NDSN stock opened at $212.27 on Wednesday. The firm has a market cap of $12.14 billion, a PE ratio of 25.70, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.35. The firm's fifty day moving average is $228.66 and its 200 day moving average is $219.42. Nordson has a one year low of $194.89 and a one year high of $272.28.
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Monday, August 22nd. The industrial products company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.45 by $0.04. The company had revenue of $662.13 million for the quarter, compared to analyst estimates of $650.90 million. Nordson had a net
margin of 19.25% and a return on equity of 23.66%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.42 earnings per share. On average, research analysts forecast that Nordson will post 9.33 EPS for the current year.
Nordson Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 22nd. This is a positive change from Nordson's previous quarterly dividend of $0.51. This represents a $2.60 dividend on an annualized basis and a yield of 1.22%. Nordson's payout ratio is presently 31.48%.
Hedge Funds Weigh In On Nordson
Institutional investors and hedge funds have recently bought and sold shares of the business. CX Institutional acquired a new position in Nordson during the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in Nordson by 186.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 146 shares of the industrial products company's stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Nordson during the second quarter worth about $31,000. Artemis Wealth Advisors LLC purchased a new position in Nordson during the first quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Nordson by 126.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 197 shares of the industrial products company's stock worth $39,000 after purchasing an additional 110 shares during the period. 72.03% of the stock is currently owned by institutional investors and hedge funds.
About Nordson
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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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).
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