Nordson (NASDAQ:NDSN) Price Target Raised to $245.00

Nordson (NASDAQ:NDSN) had its price objective boosted by Robert W. Baird from $241.00 to $245.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Oppenheimer upgraded shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price for the company in a report on Friday. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective for the company. in a research note on Monday, February 24th. Finally, KeyCorp decreased their price objective on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.17.

Nordson Stock Performance

NASDAQ:NDSN opened at $212.49 on Friday. The firm has a 50 day simple moving average of $191.64 and a 200-day simple moving average of $211.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. The firm has a market cap of $12.09 billion, a PE ratio of 27.03, a P/E/G ratio of 1.65 and a beta of 0.90. Nordson has a 1-year low of $165.03 and a 1-year high of $266.86.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $682.94 million during the quarter, compared to the consensus estimate of $671.36 million. During the same period in the previous year, the firm earned $2.34 earnings per share. Nordson’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Nordson will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.47%. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York Life Investment Management LLC boosted its stake in shares of Nordson by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 49 shares during the period. Harbour Investments Inc. raised its holdings in Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 54 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in Nordson by 1.7% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 56 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Nordson by 2.2% in the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock valued at $553,000 after acquiring an additional 58 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Nordson by 4.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 66 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

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.