Wall Street Zen Downgrades Nordson (NASDAQ:NDSN) to Hold

Wall Street Zen cut shares of Nordson (NASDAQ:NDSN) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other equities analysts have also recently commented on the stock. Robert W. Baird raised their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Vertical Research started coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a “hold” rating and a $245.00 target price on the stock. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a research note on Friday, May 30th. Wolfe Research assumed coverage on shares of Nordson in a research note on Wednesday, June 18th. They set a “peer perform” rating on the stock. Finally, KeyCorp lowered their price objective on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nordson has an average rating of “Moderate Buy” and an average target price of $252.00.

Nordson Stock Up 0.1%

Nordson stock opened at $215.12 on Friday. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.65 and a beta of 0.89. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $202.82 and its two-hundred day moving average price is $206.01. Nordson has a 52 week low of $165.03 and a 52 week high of $266.86.

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

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.45%. Nordson’s dividend payout ratio is currently 40.10%.

Hedge Funds Weigh In On Nordson

Hedge funds have recently made changes to their positions in the business. New York Life Investment Management LLC boosted its holdings in shares of Nordson by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock worth $1,530,000 after buying an additional 49 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after buying an additional 54 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Nordson by 2.2% in the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock worth $553,000 after buying an additional 58 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock worth $486,000 after buying an additional 67 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in shares of Nordson by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company’s stock worth $379,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds 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.