Wolfe Research Begins Coverage on Nordson (NASDAQ:NDSN)

Wolfe Research initiated coverage on shares of Nordson (NASDAQ:NDSN) in a research note published on Wednesday, Marketbeat Ratings reports. The firm issued a peer perform rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the stock. Vertical Research started coverage on shares of Nordson in a research note on Tuesday. They set a “hold” rating and a $245.00 price target on the stock. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Friday, May 30th. Robert W. Baird upped their price target on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. BNP Paribas cut shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a research note on Monday, February 24th. Finally, Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

Nordson Stock Down 0.3%

Shares of Nordson stock opened at $213.53 on Wednesday. The company has a market cap of $12.07 billion, a P/E ratio of 27.45, a PEG ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. Nordson has a one year low of $165.03 and a one year high of $266.86. The firm has a fifty day moving average of $198.51 and a two-hundred day moving average of $208.07.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The business had revenue of $682.94 million for the quarter, compared to analysts’ expectations of $671.36 million. During the same period in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that Nordson will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.46%. Nordson’s payout ratio is 40.10%.

Institutional Investors Weigh In On Nordson

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Nordson in the 1st quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 89 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 54 shares during the last quarter. National Pension Service boosted its stake in shares of Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of Nordson by 73.7% during the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 115 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

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.