Nordson (NASDAQ:NDSN) Lowered to “Hold” Rating by Baird R W

Nordson (NASDAQ:NDSN) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. DA Davidson dropped their price objective on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $237.00 target price (down from $294.00) on shares of Nordson in a report on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $279.00.

Nordson Stock Performance

NASDAQ:NDSN opened at $226.46 on Friday. The company has a market capitalization of $12.95 billion, a PE ratio of 27.92, a P/E/G ratio of 1.85 and a beta of 0.90. Nordson has a fifty-two week low of $222.18 and a fifty-two week high of $279.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The company has a 50 day simple moving average of $253.99 and a two-hundred day simple moving average of $245.73.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. The business had revenue of $744.00 million during the quarter, compared to the consensus estimate of $736.83 million. Nordson had a net margin of 17.37% and a return on equity of 20.12%. Nordson’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 earnings per share. Research analysts anticipate that Nordson will post 10.35 earnings per share for the current year.

Insider Activity

In other news, EVP Jennifer L. Mcdonough sold 225 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the transaction, the executive vice president now directly owns 3,287 shares of the company’s stock, valued at $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the sale, the executive vice president now directly owns 8,659 shares of the company’s stock, valued at approximately $2,164,576.82. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,629 shares of company stock worth $914,400 in the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nordson by 20.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,250 shares of the industrial products company’s stock worth $986,000 after acquiring an additional 714 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Nordson by 7.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,797 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 465 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Nordson by 61.6% in the second quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 11,875 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Nordson by 8.9% in the second quarter. Raymond James & Associates now owns 312,493 shares of the industrial products company’s stock valued at $72,480,000 after purchasing an additional 25,506 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Nordson by 66.9% during the second quarter. Fifth Third Bancorp now owns 1,756 shares of the industrial products company’s stock valued at $407,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 72.11% 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. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.