Nordson (NASDAQ:NDSN) Upgraded at Loop Capital

Loop Capital upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has $280.00 price target on the industrial products company’s stock, up from their prior price target of $255.00.

NDSN has been the subject of several other reports. DA Davidson lowered their target price on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Baird R W lowered Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Robert W. Baird reissued a “neutral” rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $279.25.

Nordson Price Performance

Shares of NDSN opened at $218.07 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.41 and a debt-to-equity ratio of 0.72. The stock has a market cap of $12.45 billion, a PE ratio of 26.89, a PEG ratio of 1.65 and a beta of 0.95. Nordson has a 12-month low of $196.83 and a 12-month high of $279.38. The business has a 50-day simple moving average of $228.28 and a two-hundred day simple moving average of $241.91.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 19.87%. The business had revenue of $744.00 million during the quarter, compared to analyst estimates of $736.83 million. During the same quarter last year, the business earned $2.46 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts anticipate that Nordson will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.78 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.12 annualized dividend and a dividend yield of 1.43%. Nordson’s dividend payout ratio is currently 38.47%.

Insider Buying and Selling

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $206.79, for a total value of $268,620.21. Following the transaction, the executive vice president now owns 7,347 shares in the company, valued at approximately $1,519,286.13. This represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $862,081.49. This represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,928 shares of company stock valued at $433,080 over the last ninety days. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nordson

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Procyon Advisors LLC increased its holdings in Nordson by 2.9% during the 3rd quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 39 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in Nordson by 1.0% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company’s stock worth $1,052,000 after buying an additional 39 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in Nordson by 1.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock valued at $752,000 after buying an additional 42 shares during the last quarter. Covestor Ltd lifted its stake in Nordson by 18.8% during the 3rd quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 43 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Nordson by 3.5% during the 3rd quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 49 shares during the last quarter. 72.11% of the stock is owned by institutional investors.

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.