Zacks Investment Research upgraded shares of Nordson Corporation (NASDAQ:NDSN) from a sell rating to a hold rating in a research note released on Friday morning.
According to Zacks, “Over the long term, Nordson is poised to benefit from diversified product portfolio and strategic acquisitions. In March, the company acquired assets of Vention Medical's Advanced Technologies business. Also, it remains committed toward rewarding its shareholders through dividend payments and share buybacks. However, the company is exposed to risks arising from international diversity and higher costs and debt levels. Also, difficulties or delays in research and development of products, failure of new products and technologies and intense competition might dent the company's profitability. Over the last three months, Nordson's shares have underperformed the industry. For the fiscal fourth quarter, the company anticipates net sales to grow 4-8% year over year, weaker compared with 20% sales growth recorded in the previous quarter.”
Other analysts also recently issued research reports about the company. FBR & Co set a $160.00 target price on Nordson Corporation and gave the company a buy rating in a research note on Monday, September 11th. BidaskClub downgraded Nordson Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Wells Fargo & Company reaffirmed a market perform rating and set a $130.00 target price (up previously from $122.00) on shares of Nordson Corporation in a research note on Thursday, May 25th. Wellington Shields raised Nordson Corporation from a hold rating to a gradually accumulate rating in a research note on Friday, June 2nd. Finally, Longbow Research raised Nordson Corporation from a neutral rating to a buy rating and set a $140.00 target price on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $138.25.
Nordson Corporation (NDSN) traded up 0.47% during midday trading on Friday, hitting $117.21. The stock had a trading volume of 173,974 shares. The stock has a 50-day moving average price of $117.85 and a 200 day moving average price of $121.46. The firm has a market cap of $6.76 billion, a PE ratio of 23.31 and a beta of 1.35. Nordson Corporation has a one year low of $95.35 and a one year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last announced its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.12. The business had revenue of $589.40 million for the quarter, compared to the consensus estimate of $574.20 million. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, analysts predict that Nordson Corporation will post $5.32 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, August 18th. This is an increase from Nordson Corporation’s previous quarterly dividend of $0.27. Nordson Corporation’s payout ratio is currently 23.90%.
Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC bought a new stake in shares of Nordson Corporation in the 1st quarter worth $44,110,000. Sei Investments Co. raised its stake in shares of Nordson Corporation by 5.9% in the 1st quarter. Sei Investments Co. now owns 25,162 shares of the industrial products company’s stock worth $3,091,000 after buying an additional 1,407 shares in the last quarter. Motley Fool Wealth Management LLC bought a new stake in shares of Nordson Corporation in the 1st quarter worth $252,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Nordson Corporation by 4.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 416,003 shares of the industrial products company’s stock worth $50,471,000 after buying an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Nordson Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,396,104 shares of the industrial products company’s stock worth $540,018,000 after buying an additional 251,861 shares in the last quarter. 65.48% of the stock is currently owned by institutional investors.
About Nordson Corporation
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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