Nordson (NASDAQ:NDSN) Stock Rating Lowered by Wall Street Zen

Nordson (NASDAQ:NDSN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts also recently commented on NDSN. Jefferies Financial Group restated a “hold” rating and issued a $240.00 target price on shares of Nordson in a research report on Thursday, August 21st. DA Davidson set a $285.00 price objective on shares of Nordson in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordson in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Oppenheimer upped their price objective on shares of Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.75.

Nordson Price Performance

Shares of NDSN stock opened at $233.48 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The company has a market capitalization of $13.12 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The firm’s 50-day moving average is $230.84 and its two-hundred day moving average is $220.47. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The business had revenue of $646.86 million during the quarter. Analysts predict that Nordson will post 10.2 earnings per share for the current year.

Insider Activity at Nordson

In related news, EVP Joseph P. Kelley sold 2,300 shares of Nordson stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the transaction, the executive vice president owned 8,605 shares in the company, valued at approximately $1,999,715.95. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James E. Devries sold 9,100 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $233.60, for a total transaction of $2,125,760.00. Following the sale, the executive vice president directly owned 51,223 shares in the company, valued at approximately $11,965,692.80. The trade was a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,600 shares of company stock valued at $3,188,257. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Nordson by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,200,937 shares of the industrial products company’s stock worth $1,329,295,000 after purchasing an additional 22,090 shares in the last quarter. State Street Corp grew its position in shares of Nordson by 4.7% during the second quarter. State Street Corp now owns 2,958,110 shares of the industrial products company’s stock worth $636,375,000 after buying an additional 133,229 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Nordson by 3.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock worth $540,867,000 after buying an additional 90,704 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Nordson by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,068,214 shares of the industrial products company’s stock valued at $228,993,000 after acquiring an additional 48,556 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Nordson by 15.9% in the first quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock worth $210,536,000 after acquiring an additional 142,991 shares during the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

About Nordson

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.