BidaskClub Upgrades Nordson (NASDAQ:NDSN) to Hold
Several other brokerages have also recently commented on NDSN. DA Davidson dropped their target price on Nordson from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Longbow Research set a $160.00 target price on Nordson and gave the stock a “buy” rating in a report on Friday, August 23rd. ValuEngine raised Nordson from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Zacks Investment Research cut Nordson from a “hold” rating to a “sell” rating and set a $148.00 target price on the stock. in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $143.00.
NASDAQ:NDSN traded down $0.65 during midday trading on Tuesday, hitting $146.80. 141,176 shares of the stock were exchanged, compared to its average volume of 197,015. Nordson has a one year low of $110.16 and a one year high of $149.23. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.45 and a beta of 1.21. The business has a 50-day moving average price of $136.95 and a two-hundred day moving average price of $136.67. The company has a current ratio of 2.21, a quick ratio of 1.57 and a debt-to-equity ratio of 0.76.
In other Nordson news, CEO Michael F. Hilton sold 5,000 shares of Nordson stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $138.85, for a total value of $694,250.00. Following the transaction, the chief executive officer now owns 219,455 shares in the company, valued at $30,471,326.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey A. Pembroke sold 3,200 shares of Nordson stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $140.19, for a total transaction of $448,608.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,108 shares of company stock worth $1,686,227. 1.97% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. grew its holdings in shares of Nordson by 4.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,893 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 81 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Nordson by 1.5% in the 1st quarter. Advisory Services Network LLC now owns 6,125 shares of the industrial products company’s stock valued at $812,000 after purchasing an additional 92 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nordson by 3.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,155 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 110 shares during the last quarter. Capital Insight Partners LLC lifted its stake in shares of Nordson by 1.2% in the 2nd quarter. Capital Insight Partners LLC now owns 9,833 shares of the industrial products company’s stock valued at $1,390,000 after purchasing an additional 115 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Nordson by 0.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 18,216 shares of the industrial products company’s stock valued at $2,574,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.
Nordson Company Profile
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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