Nordson (NASDAQ:NDSN) Reaches New 12-Month High at $276.09

Nordson Co. (NASDAQ:NDSN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $276.09 and last traded at $274.54, with a volume of 231150 shares. The stock had previously closed at $273.74.

Wall Street Analysts Forecast Growth

NDSN has been the topic of a number of analyst reports. KeyCorp reissued a “sector weight” rating on shares of Nordson in a research report on Monday, February 26th. Wells Fargo & Company upped their target price on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. DA Davidson upped their target price on Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $278.00.

Nordson Stock Up 0.3 %

The company has a market capitalization of $15.70 billion, a P/E ratio of 32.10, 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. The stock has a 50 day moving average price of $262.25 and a 200 day moving average price of $244.08.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The company had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $630.77 million. During the same period in the prior year, the company earned $1.95 EPS. Nordson’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Nordson Co. will post 10.22 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s dividend payout ratio is currently 31.81%.

Insider Buying and Selling

In related news, EVP Stephen Lovass sold 1,213 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $250.13, for a total transaction of $303,407.69. Following the completion of the transaction, the executive vice president now directly owns 7,379 shares of the company’s stock, valued at approximately $1,845,709.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Nordson news, EVP Srinivas Subramanian sold 2,100 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $250.79, for a total transaction of $526,659.00. Following the completion of the sale, the executive vice president now directly owns 4,565 shares in the company, valued at approximately $1,144,856.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Lovass sold 1,213 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $250.13, for a total value of $303,407.69. Following the sale, the executive vice president now owns 7,379 shares of the company’s stock, valued at $1,845,709.27. The disclosure for this sale can be found here. Insiders sold a total of 5,313 shares of company stock valued at $1,347,427 in the last three months. Insiders own 0.86% of the company’s stock.

Institutional Trading of Nordson

A number of large investors have recently bought and sold shares of NDSN. Newbridge Financial Services Group Inc. grew its holdings in Nordson by 208.3% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 75 shares during the period. Tobam lifted its position in Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Nordson during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC bought a new position in shares of Nordson during the 4th quarter worth approximately $27,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Nordson in the 4th quarter worth approximately $28,000. 72.11% of the stock is currently 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.