Nordson (NDSN) Upgraded at ValuEngine

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ValuEngine upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other research firms have also recently commented on NDSN. Wells Fargo & Co set a $135.00 price target on Nordson and gave the stock a hold rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded Nordson from a hold rating to a buy rating and set a $148.00 price objective for the company in a research report on Wednesday, May 16th. BidaskClub upgraded Nordson from a sell rating to a hold rating in a research report on Tuesday. B. Riley cut their price objective on Nordson from $175.00 to $165.00 and set a buy rating for the company in a research report on Wednesday, May 23rd. Finally, DA Davidson set a $160.00 price objective on Nordson and gave the stock a buy rating in a research report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $155.11.

Nordson stock opened at $139.35 on Wednesday. Nordson has a 12 month low of $107.16 and a 12 month high of $151.84. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.36. The company has a market cap of $7.89 billion, a PE ratio of 25.95, a P/E/G ratio of 1.74 and a beta of 1.29.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Monday, August 20th. The industrial products company reported $1.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.60. Nordson had a return on equity of 26.37% and a net margin of 16.40%. The business had revenue of $581.20 million during the quarter, compared to analysts’ expectations of $590.75 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. sell-side analysts anticipate that Nordson will post 5.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Tuesday, August 21st will be issued a $0.35 dividend. This is a positive change from Nordson’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, August 20th. This represents a $1.40 annualized dividend and a yield of 1.00%. Nordson’s dividend payout ratio is 78.21%.

Institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its holdings in Nordson by 0.7% in the first quarter. Northern Trust Corp now owns 408,722 shares of the industrial products company’s stock valued at $55,725,000 after purchasing an additional 2,787 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Nordson by 24.2% in the second quarter. State of Alaska Department of Revenue now owns 6,570 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 1,280 shares during the last quarter. Kaizen Advisory LLC grew its holdings in Nordson by 303.5% in the second quarter. Kaizen Advisory LLC now owns 8,033 shares of the industrial products company’s stock valued at $1,032,000 after purchasing an additional 6,042 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Nordson by 64.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,220,240 shares of the industrial products company’s stock valued at $541,921,000 after purchasing an additional 1,646,436 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in Nordson by 13,832.6% in the second quarter. Cornerstone Wealth Management LLC now owns 383,982 shares of the industrial products company’s stock valued at $2,989,000 after purchasing an additional 381,226 shares during the last quarter. 69.17% of the stock is currently owned by institutional investors.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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