Nordson (NASDAQ:NDSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “In the last three months, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from diversified product portfolio and strategic acquisitions in the long run. In March, the company acquired assets of Vention Medical's Advanced Technologies business. Also, it remains committed toward rewarding its shareholders through dividend payments and share buybacks. In the last 60 days, earnings estimates improved for fiscal 2018. However, the company is exposed to risks arising from international diversity and higher costs and debt levels. Also, difficulties or delays in research and development of products, failure of new products and technologies and intense competition might dent the company's profitability. For the fiscal fourth quarter, the company anticipates net sales to grow 4-8% year over year, weaker compared with 20% sales growth recorded in the previous quarter.”

A number of other research analysts have also recently commented on the company. KeyCorp reaffirmed a “buy” rating and set a $145.00 target price on shares of Nordson in a research note on Sunday, November 19th. B. Riley reaffirmed a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and set a $135.00 target price on shares of Nordson in a research note on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $138.00 target price on shares of Nordson in a research note on Wednesday, October 4th. Finally, Longbow Research raised Nordson from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, September 20th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Nordson currently has an average rating of “Buy” and an average price target of $140.33.

Shares of Nordson (NASDAQ NDSN) traded up $0.19 during midday trading on Thursday, reaching $126.41. The company’s stock had a trading volume of 151,300 shares, compared to its average volume of 294,604. The company has a quick ratio of 1.47, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Nordson has a 52 week low of $103.76 and a 52 week high of $131.49. The company has a market capitalization of $7,290.00, a PE ratio of 23.46, a P/E/G ratio of 1.45 and a beta of 1.39.

In other news, VP James E. Devries sold 5,000 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares in the company, valued at approximately $4,948,985.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware purchased a new position in Nordson in the 2nd quarter worth $104,000. D.A. Davidson & CO. raised its stake in Nordson by 2.3% in the 2nd quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 22 shares during the last quarter. IFP Advisors Inc raised its stake in Nordson by 1.5% in the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 21 shares during the last quarter. Quantbot Technologies LP grew its position in Nordson by 1,168.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,507 shares during the period. Finally, Opus Capital Group LLC acquired a new stake in Nordson during the 2nd quarter worth about $208,000. Institutional investors own 65.76% of the company’s stock.

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About Nordson

Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.

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