Nordson Co. (NASDAQ:NDSN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nordson Co. (NASDAQ:NDSN) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $279.40.

Several research analysts have recently commented on NDSN shares. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. DA Davidson cut their price objective on Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Robert W. Baird cut their price objective on Nordson from $303.00 to $272.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd.

Nordson Trading Up 2.2 %

Shares of NDSN opened at $245.95 on Monday. The business’s 50-day moving average price is $233.79 and its 200-day moving average price is $253.26. Nordson has a twelve month low of $208.91 and a twelve month high of $279.38. The stock has a market cap of $14.09 billion, a PE ratio of 29.31, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.51.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.30 by $0.04. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The company had revenue of $650.64 million during the quarter, compared to analyst estimates of $661.06 million. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Nordson’s revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Nordson will post 9.52 EPS for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, May 20th. Nordson’s dividend payout ratio is currently 32.42%.

Institutional Trading of Nordson

Several hedge funds and other institutional investors have recently bought and sold shares of NDSN. Vanguard Group Inc. boosted its stake in shares of Nordson by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,122,129 shares of the industrial products company’s stock valued at $1,680,769,000 after purchasing an additional 52,443 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Nordson by 10.4% during the first quarter. Lazard Asset Management LLC now owns 942,540 shares of the industrial products company’s stock valued at $258,764,000 after purchasing an additional 88,966 shares during the period. Norges Bank purchased a new stake in shares of Nordson during the fourth quarter valued at approximately $158,948,000. Bank of New York Mellon Corp boosted its stake in shares of Nordson by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 490,167 shares of the industrial products company’s stock valued at $113,689,000 after purchasing an additional 11,809 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Nordson by 0.9% during the fourth quarter. Wells Fargo & Company MN now owns 484,863 shares of the industrial products company’s stock valued at $128,081,000 after purchasing an additional 4,416 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

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.