Nordson (NASDAQ:NDSN) Shares Gap Down – Here’s What Happened

Shares of Nordson Co. (NASDAQ:NDSN) gapped down prior to trading on Thursday . The stock had previously closed at $249.55, but opened at $234.04. Nordson shares last traded at $235.64, with a volume of 86,654 shares.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price target on Nordson from $272.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nordson currently has a consensus rating of “Moderate Buy” and an average price target of $299.00.

Nordson Stock Down 7.9 %

The company has a current ratio of 2.36, a quick ratio of 1.52 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $13.14 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.89 and a beta of 0.90. The business has a 50-day moving average price of $255.03 and a 200 day moving average price of $245.93.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. The firm had revenue of $744.00 million during the quarter, compared to the consensus estimate of $736.83 million. Nordson had a return on equity of 19.80% and a net margin of 17.75%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. On average, equities analysts expect that Nordson Co. will post 9.55 EPS for the current fiscal year.

Insider Activity at Nordson

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the sale, the executive vice president now owns 3,287 shares in the company, valued at $862,081.49. This trade represents a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Lovass sold 317 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the sale, the executive vice president now owns 6,666 shares in the company, valued at approximately $1,738,159.50. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,629 shares of company stock worth $914,400. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Nordson

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its position in shares of Nordson by 10.0% during the 2nd quarter. QRG Capital Management Inc. now owns 1,398 shares of the industrial products company’s stock worth $324,000 after buying an additional 127 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Nordson by 105.6% during the 2nd quarter. SG Americas Securities LLC now owns 11,677 shares of the industrial products company’s stock worth $2,708,000 after buying an additional 5,997 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Nordson by 20.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,250 shares of the industrial products company’s stock worth $986,000 after buying an additional 714 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Nordson by 10.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,021 shares of the industrial products company’s stock worth $237,000 after buying an additional 93 shares in the last quarter. Finally, ORG Partners LLC grew its position in shares of Nordson by 1,538.0% during the 2nd quarter. ORG Partners LLC now owns 819 shares of the industrial products company’s stock worth $187,000 after buying an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.