BidaskClub Lowers Nordson Corporation (NDSN) to Buy
BidaskClub downgraded shares of Nordson Corporation (NASDAQ:NDSN) from a strong-buy rating to a buy rating in a report released on Friday.
Several other research firms have also recently commented on NDSN. Zacks Investment Research upgraded Nordson Corporation from a hold rating to a buy rating and set a $138.00 target price on the stock in a research note on Wednesday, April 26th. FBR & Co restated an outperform rating on shares of Nordson Corporation in a research note on Tuesday, July 11th. Wells Fargo & Company restated a market perform rating and issued a $130.00 target price (up previously from $122.00) on shares of Nordson Corporation in a research note on Thursday, May 25th. Finally, Wellington Shields upgraded Nordson Corporation from a hold rating to a gradually accumulate rating in a research note on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $115.50.
Nordson Corporation (NASDAQ:NDSN) opened at 124.13 on Friday. The company has a 50-day moving average price of $124.86 and a 200-day moving average price of $122.43. The firm has a market cap of $7.15 billion, a P/E ratio of 26.17 and a beta of 1.35. Nordson Corporation has a 12-month low of $90.14 and a 12-month high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last released its earnings results on Monday, May 22nd. The industrial products company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. The firm had revenue of $496.14 million for the quarter, compared to analysts’ expectations of $470.12 million. Nordson Corporation had a return on equity of 33.39% and a net margin of 14.43%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, analysts predict that Nordson Corporation will post $5.40 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 0.97%. Nordson Corporation’s payout ratio is 25.32%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Colony Group LLC acquired a new position in Nordson Corporation during the second quarter worth $2,256,000. Koch Industries Inc. acquired a new position in Nordson Corporation during the second quarter worth $425,000. Ameritas Investment Partners Inc. raised its position in Nordson Corporation by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 17,840 shares of the industrial products company’s stock worth $2,164,000 after buying an additional 264 shares during the last quarter. Castleark Management LLC acquired a new position in Nordson Corporation during the second quarter worth $414,000. Finally, Atlanta Capital Management Co. L L C raised its position in Nordson Corporation 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 worth $215,658,000 after buying an additional 848,006 shares during the last quarter. 66.43% of the stock is currently owned by institutional investors and hedge funds.
Nordson Corporation 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.
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