Nordson (NASDAQ:NDSN) PT Lowered to $295.00

Nordson (NASDAQ:NDSN) had its price objective decreased by DA Davidson from $315.00 to $295.00 in a research note published on Wednesday, Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. StockNews.com raised Nordson from a hold rating to a buy rating in a research note on Monday. KeyCorp restated a sector weight rating on shares of Nordson in a report on Monday, February 26th. Wells Fargo & Company raised their price objective on Nordson from $290.00 to $315.00 and gave the company an overweight rating in a report on Friday, February 23rd. Finally, Robert W. Baird decreased their price objective on Nordson from $303.00 to $272.00 and set an outperform rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $277.83.

Nordson Stock Performance

Shares of Nordson stock opened at $243.12 on Wednesday. The stock’s fifty day simple moving average is $266.57 and its 200 day simple moving average is $256.54. Nordson has a 12 month low of $208.90 and a 12 month high of $279.38. The company has a market capitalization of $13.90 billion, a PE ratio of 28.98, a PEG ratio of 2.02 and a beta of 1.00. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.04. Nordson had a return on equity of 20.50% and a net margin of 18.23%. The firm had revenue of $650.64 million for the quarter, compared to the consensus estimate of $661.06 million. During the same quarter last year, the business posted $2.26 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts predict that Nordson will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, May 20th. Nordson’s payout ratio is currently 32.42%.

Hedge Funds Weigh In On Nordson

A number of hedge funds and other institutional investors have recently bought and sold shares of NDSN. Panagora Asset Management Inc. grew its holdings in Nordson by 4.6% during the third quarter. Panagora Asset Management Inc. now owns 2,911 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 127 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Nordson by 1.6% during the third quarter. Teacher Retirement System of Texas now owns 3,958 shares of the industrial products company’s stock worth $883,000 after acquiring an additional 61 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Nordson by 5.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,043 shares of the industrial products company’s stock worth $233,000 after acquiring an additional 53 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Nordson during the third quarter worth approximately $488,000. Finally, MGO One Seven LLC boosted its holdings in shares of Nordson by 9.9% during the third quarter. MGO One Seven LLC now owns 1,069 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 96 shares during the period. Institutional investors own 72.11% of the company’s stock.

Nordson Company Profile

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 three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.