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 Monday morning.
A number of other analysts have also weighed in on NDSN. Robert W. Baird upped their target price on Nordson from $232.00 to $271.00 and gave the stock an outperform rating in a report on Wednesday, August 24th. DA Davidson increased their price target on Nordson from $265.00 to $270.00 in a research report on Tuesday, August 23rd. Finally, Morgan Stanley cut their price target on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $270.20.
Get Nordson alerts:Nordson Trading Up 2.3 %
NDSN opened at $224.03 on Monday. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.81 and a beta of 0.95. The stock's 50 day moving average price is $227.97 and its 200-day moving average price is $219.59. Nordson has a one year low of $194.89 and a one year high of $272.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.35.
Nordson (NASDAQ:NDSN – Get Rating) last announced its quarterly earnings data on Monday, August 22nd. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.05. Nordson had a return on equity of 23.66% and a net margin of 19.25%. The company had revenue of $662.13 million for the quarter, compared to analysts' expectations of $650.90 million. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Nordson's revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Nordson will post 9.33 EPS for the current year.Nordson Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, August 22nd. This is an increase from Nordson's previous quarterly dividend of $0.51. Nordson's dividend payout ratio (DPR) is 31.48%.
Hedge Funds Weigh In On Nordson
Several institutional investors have recently modified their holdings of the business. CX Institutional acquired a new position in shares of Nordson during the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Nordson by 186.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 146 shares of the industrial products company's stock valued at $30,000 after buying an additional 95 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Nordson in the second quarter valued at about $31,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Nordson in the first quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 72.03% of the company's stock.
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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