Nordson (NDSN) Sets New 12-Month Low at $122.64

Nordson Co. (NASDAQ:NDSN) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $122.64 and last traded at $122.82, with a volume of 335779 shares. The stock had previously closed at $125.52.

Several research analysts have issued reports on NDSN shares. BidaskClub upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. ValuEngine upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. DA Davidson set a $160.00 price objective on Nordson and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, Zacks Investment Research cut Nordson from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $156.57.

The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.36.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Monday, August 20th. The industrial products company reported $1.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.60. Nordson had a return on equity of 26.37% and a net margin of 16.40%. The business had revenue of $581.20 million during the quarter, compared to analysts’ expectations of $590.75 million. During the same quarter last year, the business posted $1.74 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts forecast that Nordson Co. will post 5.98 earnings per share for the current fiscal year.

Nordson declared that its Board of Directors has authorized a share repurchase plan on Tuesday, September 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Mary G. Puma sold 2,983 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total value of $433,847.52. Following the completion of the transaction, the director now owns 18,799 shares in the company, valued at $2,734,126.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.01% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Nordson in the second quarter valued at $132,000. Sawtooth Solutions LLC purchased a new position in shares of Nordson in the second quarter valued at $205,000. Hartford Investment Management Co. purchased a new position in shares of Nordson in the second quarter valued at $206,000. Gideon Capital Advisors Inc. purchased a new position in shares of Nordson in the second quarter valued at $211,000. Finally, Natixis purchased a new position in shares of Nordson in the second quarter valued at $214,000. Institutional investors and hedge funds own 68.07% of the company’s stock.

Nordson Company Profile (NASDAQ:NDSN)

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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