Nordson (NASDAQ:NDSN) was downgraded by stock analysts at Gabelli from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Nordson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. SunTrust Banks restated a “buy” rating and issued a $135.00 price objective on shares of Nordson in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Tuesday, October 24th. FBR & Co set a $160.00 price objective on shares of Nordson and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, Longbow Research upgraded shares of 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Nordson currently has an average rating of “Buy” and an average price target of $145.40.
Shares of Nordson (NASDAQ NDSN) traded up $16.95 during mid-day trading on Friday, reaching $143.86. The company’s stock had a trading volume of 1,610,300 shares, compared to its average volume of 300,598. Nordson has a one year low of $107.16 and a one year high of $150.48. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.47 and a current ratio of 2.10. The firm has a market capitalization of $7,321.73, a P/E ratio of 23.63, a PEG ratio of 1.46 and a beta of 1.40.
In other news, VP James E. Devries sold 5,000 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $118.01, for a total value of $590,050.00. Following the sale, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.15% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Nordson by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 79,137 shares of the industrial products company’s stock worth $9,601,000 after purchasing an additional 1,751 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Nordson by 4.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 416,003 shares of the industrial products company’s stock worth $50,471,000 after purchasing an additional 19,044 shares during the period. BNP Paribas Arbitrage SA lifted its position in Nordson by 44.0% in the second quarter. BNP Paribas Arbitrage SA now owns 26,298 shares of the industrial products company’s stock worth $3,190,000 after purchasing an additional 8,039 shares during the period. FMR LLC lifted its position in Nordson by 26.9% in the second quarter. FMR LLC now owns 455,680 shares of the industrial products company’s stock worth $55,283,000 after purchasing an additional 96,598 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Nordson by 16.5% in the second quarter. Pacer Advisors Inc. now owns 7,374 shares of the industrial products company’s stock worth $895,000 after purchasing an additional 1,047 shares during the period. 65.76% of the stock is owned by hedge funds and other institutional investors.
Nordson Company Profile
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.
