StockNews.com Begins Coverage on Nordson (NASDAQ:NDSN)

StockNews.com initiated coverage on shares of Nordson (NASDAQ:NDSN – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Separately, Robert W. Baird cut their price target on shares of Nordson from $259.00 to $241.00 and set an outperform rating for the company in a report on Wednesday, February 22nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $255.20.

Nordson Stock Down 1.2 %

Shares of Nordson stock opened at $204.02 on Thursday. The company has a market cap of $11.68 billion, a P/E ratio of 23.78, a PEG ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43. Nordson has a one year low of $194.89 and a one year high of $251.26. The firm has a fifty day moving average of $232.18 and a two-hundred day moving average of $229.06.

Nordson (NASDAQ:NDSN – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). The firm had revenue of $610.48 million for the quarter, compared to analysts’ expectations of $625.87 million. Nordson had a return on equity of 23.67% and a net margin of 19.18%. During the same quarter in the previous year, the company posted $2.07 EPS. On average, analysts forecast that Nordson will post 9.03 earnings per share for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were issued a $0.65 dividend. The ex-dividend date was Friday, February 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.27%. Nordson’s dividend payout ratio is presently 30.30%.

Insider Activity

In related news, EVP Shelly Peet sold 1,692 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $235.00, for a total value of $397,620.00. Following the sale, the executive vice president now directly owns 26,487 shares of the company’s stock, valued at approximately $6,224,445. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Joseph P. Kelley sold 2,100 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $246.43, for a total value of $517,503.00. Following the sale, the chief financial officer now directly owns 9,091 shares of the company’s stock, valued at approximately $2,240,295.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Shelly Peet sold 1,692 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $235.00, for a total transaction of $397,620.00. Following the completion of the sale, the executive vice president now directly owns 26,487 shares in the company, valued at $6,224,445. The disclosure for this sale can be found here. Insiders sold 10,403 shares of company stock worth $2,515,941 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nordson

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Nordson by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,050,206 shares of the industrial products company’s stock worth $1,284,278,000 after purchasing an additional 16,460 shares during the last quarter. State Street Corp boosted its stake in shares of Nordson by 0.9% during the 2nd quarter. State Street Corp now owns 2,490,736 shares of the industrial products company’s stock worth $504,225,000 after purchasing an additional 23,227 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Nordson by 0.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,097,082 shares of the industrial products company’s stock worth $445,148,000 after purchasing an additional 10,037 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nordson by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,401,837 shares of the industrial products company’s stock worth $332,777,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Nordson by 435.1% during the 4th quarter. Morgan Stanley now owns 1,275,693 shares of the industrial products company’s stock worth $303,258,000 after purchasing an additional 1,037,295 shares during the last quarter. 70.40% of the stock is owned by institutional investors and hedge funds.

Nordson Company Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.