Nordson Co. (NASDAQ:NDSN) Given Consensus Recommendation of “Hold” by Brokerages

Nordson Co. (NASDAQ:NDSN) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $252.00.

NDSN has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Nordson from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 1st. Seaport Res Ptn restated a “neutral” rating on shares of Nordson in a research report on Tuesday, May 25th. Morgan Stanley upped their target price on Nordson from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 26th. Zacks Investment Research downgraded Nordson from a “hold” rating to a “sell” rating and set a $233.00 target price for the company. in a research note on Wednesday, July 28th. Finally, DA Davidson upped their target price on Nordson from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st.

In other news, EVP Gregory P. Merk sold 214 shares of the stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $225.00, for a total transaction of $48,150.00. Following the completion of the transaction, the executive vice president now directly owns 19,634 shares in the company, valued at approximately $4,417,650. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey A. Pembroke sold 2,000 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $240.95, for a total value of $481,900.00. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $2,731,900 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Nordson by 1.1% in the 1st quarter. BlackRock Inc. now owns 5,231,600 shares of the industrial products company’s stock valued at $1,039,416,000 after purchasing an additional 57,947 shares in the last quarter. State Street Corp raised its position in shares of Nordson by 5.8% during the 2nd quarter. State Street Corp now owns 2,057,772 shares of the industrial products company’s stock worth $451,702,000 after acquiring an additional 112,705 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Nordson by 11.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,693,811 shares of the industrial products company’s stock worth $371,811,000 after acquiring an additional 173,820 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Nordson by 0.7% during the 1st quarter. Neuberger Berman Group LLC now owns 987,680 shares of the industrial products company’s stock worth $194,973,000 after acquiring an additional 6,931 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in shares of Nordson by 90.4% during the 1st quarter. Champlain Investment Partners LLC now owns 967,505 shares of the industrial products company’s stock worth $192,224,000 after acquiring an additional 459,332 shares in the last quarter. Institutional investors own 68.47% of the company’s stock.

Nordson stock traded up $1.96 during trading hours on Tuesday, reaching $242.05. The stock had a trading volume of 213,001 shares, compared to its average volume of 228,453. The company has a market cap of $14.07 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.33 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.48 and a quick ratio of 1.76. The business’s 50 day moving average price is $229.16 and its 200-day moving average price is $216.33. Nordson has a 52 week low of $178.60 and a 52 week high of $245.90.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Sunday, August 29th. The industrial products company reported $2.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.34. The business had revenue of $646.86 million for the quarter, compared to analyst estimates of $604.27 million. Nordson had a return on equity of 22.91% and a net margin of 15.61%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, sell-side analysts forecast that Nordson will post 7.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Tuesday, August 24th were paid a $0.51 dividend. The ex-dividend date was Monday, August 23rd. This is an increase from Nordson’s previous quarterly dividend of $0.39. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.84%. Nordson’s dividend payout ratio (DPR) is 37.23%.

Nordson Company Profile

Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through three segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.

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