BidaskClub Downgrades Nordson (NDSN) to Sell
BidaskClub cut shares of Nordson (NASDAQ:NDSN) from a hold rating to a sell rating in a report issued on Tuesday morning.
NDSN has been the subject of a number of other reports. Wellington Shields downgraded Nordson from a gradually accumulate rating to a hold rating in a research note on Wednesday, May 23rd. ValuEngine upgraded Nordson from a hold rating to a buy rating in a research note on Friday, April 13th. Seaport Global Securities downgraded Nordson from a buy rating to a neutral rating in a research note on Tuesday, May 22nd. B. Riley cut their price target on Nordson from $175.00 to $165.00 and set a buy rating for the company in a research note on Wednesday, May 23rd. Finally, Zacks Investment Research upgraded Nordson from a hold rating to a buy rating and set a $148.00 price target for the company in a research note on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Nordson currently has a consensus rating of Hold and a consensus target price of $153.60.
Shares of Nordson traded up $0.35, reaching $133.43, during trading hours on Tuesday, Marketbeat reports. 124,096 shares of the stock traded hands, compared to its average volume of 177,233. The company has a market cap of $7.75 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.70 and a beta of 1.29. Nordson has a one year low of $107.16 and a one year high of $151.84. The company has a quick ratio of 1.31, a current ratio of 1.84 and a debt-to-equity ratio of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st will be paid a dividend of $0.35 per share. This is an increase from Nordson’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. Nordson’s payout ratio is 22.35%.
Several large investors have recently made changes to their positions in NDSN. Wells Fargo & Company MN grew its stake in shares of Nordson by 8.3% during the 1st quarter. Wells Fargo & Company MN now owns 1,050,902 shares of the industrial products company’s stock valued at $143,280,000 after acquiring an additional 80,587 shares during the period. Dupont Capital Management Corp lifted its holdings in Nordson by 369.9% in the 1st quarter. Dupont Capital Management Corp now owns 43,091 shares of the industrial products company’s stock worth $5,875,000 after purchasing an additional 33,921 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Nordson in the 1st quarter worth approximately $8,365,000. Roffman Miller Associates Inc. PA lifted its holdings in Nordson by 1.3% in the 1st quarter. Roffman Miller Associates Inc. PA now owns 150,312 shares of the industrial products company’s stock worth $20,494,000 after purchasing an additional 1,884 shares in the last quarter. Finally, Westpac Banking Corp lifted its holdings in Nordson by 23.8% in the 1st quarter. Westpac Banking Corp now owns 42,700 shares of the industrial products company’s stock worth $5,822,000 after purchasing an additional 8,200 shares in the last quarter. Institutional investors own 69.79% of the company’s stock.
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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