Nordson Corporation (NDSN) Raised to “Buy” at Gabelli
Gabelli upgraded shares of Nordson Corporation (NASDAQ:NDSN) from a hold rating to a buy rating in a research note released on Wednesday morning, Marketbeat reports. The firm currently has $140.00 price target on the industrial products company’s stock. Gabelli also issued estimates for Nordson Corporation’s FY2017 earnings at $5.35 EPS, FY2018 earnings at $6.20 EPS, FY2019 earnings at $6.85 EPS, FY2020 earnings at $7.45 EPS and FY2021 earnings at $8.20 EPS.
A number of other research firms also recently issued reports on NDSN. BidaskClub upgraded shares of Nordson Corporation from a buy rating to a strong-buy rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Nordson Corporation from a hold rating to a buy rating and set a $138.00 price objective for the company in a report on Wednesday, April 26th. FBR & Co restated an outperform rating on shares of Nordson Corporation in a report on Tuesday, July 11th. Wells Fargo & Company restated a market perform rating and set a $130.00 price objective (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Finally, Wellington Shields upgraded shares of Nordson Corporation from a hold rating to a gradually accumulate rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $134.33.
Shares of Nordson Corporation (NASDAQ NDSN) traded up 0.25% on Wednesday, hitting $108.84. 490,536 shares of the stock were exchanged. The firm has a market capitalization of $6.28 billion, a PE ratio of 21.64 and a beta of 1.35. The company has a 50-day moving average price of $123.65 and a 200-day moving average price of $122.38. Nordson Corporation has a one year low of $94.56 and a one year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last posted its quarterly earnings data on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. The business had revenue of $589.40 million during the quarter, compared to the consensus estimate of $574.20 million. During the same quarter last year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. Equities research analysts expect that Nordson Corporation will post $5.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be given a $0.30 dividend. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, August 18th. Nordson Corporation’s dividend payout ratio (DPR) is 23.90%.
Several institutional investors have recently added to or reduced their stakes in NDSN. BlackRock Inc. raised its position in Nordson Corporation by 6,982.3% in the first quarter. BlackRock Inc. now owns 4,380,454 shares of the industrial products company’s stock worth $538,093,000 after buying an additional 4,318,603 shares during the period. Janus Henderson Group PLC purchased a new position in Nordson Corporation during the second quarter worth approximately $158,781,000. 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 period. TimesSquare Capital Management LLC purchased a new position in Nordson Corporation during the second quarter worth approximately $75,388,000. Finally, Koch Industries Inc. purchased a new position in Nordson Corporation during the second quarter worth approximately $425,000. Institutional investors own 66.43% of the company’s stock.
About Nordson Corporation
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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