BidaskClub Lowers Nordson (NDSN) to Buy

BidaskClub downgraded shares of Nordson (NASDAQ:NDSN) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Nordson from a sell rating to a buy rating and set a $140.00 target price on the stock in a report on Tuesday, October 24th. FBR & Co set a $160.00 target price on Nordson and gave the stock a buy rating in a report on Monday, September 11th. SunTrust Banks reissued a buy rating and set a $135.00 target price on shares of Nordson in a report on Friday, October 27th. KeyCorp reissued a buy rating and set a $145.00 target price on shares of Nordson in a report on Thursday, October 12th. Finally, Robert W. Baird reissued a hold rating and set a $138.00 target price on shares of Nordson in a report on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $145.40.

Shares of Nordson (NASDAQ NDSN) traded up $16.95 during midday trading on Tuesday, hitting $143.86. The stock had a trading volume of 1,610,300 shares, compared to its average volume of 300,598. 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. Nordson has a fifty-two week low of $107.16 and a fifty-two week high of $150.48.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $546.76 million. Nordson had a return on equity of 31.90% and a net margin of 14.31%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. equities research analysts forecast that Nordson will post 5.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $1.20 annualized dividend and a dividend yield of 0.83%. Nordson’s dividend payout ratio is currently 23.62%.

In other Nordson news, VP James E. Devries sold 5,000 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the transaction, the vice president now owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.15% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NDSN. Janus Henderson Group PLC bought a new position in shares of Nordson in the second quarter valued at $158,781,000. Atlanta Capital Management Co. L L C increased its holdings in shares of Nordson by 91.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock valued at $215,658,000 after buying an additional 848,006 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Nordson in the second quarter valued at $75,388,000. Koch Industries Inc. bought a new position in shares of Nordson in the second quarter valued at $425,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Nordson by 93.9% in the second quarter. Principal Financial Group Inc. now owns 773,058 shares of the industrial products company’s stock valued at $93,786,000 after buying an additional 374,363 shares in the last quarter. 65.76% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Nordson (NASDAQ:NDSN)

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