Nordson (NASDAQ:NDSN) Price Target Lowered to $230.00 at KeyCorp

Nordson (NASDAQ:NDSN) had its price objective reduced by KeyCorp from $260.00 to $230.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also recently commented on the stock. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. DA Davidson decreased their price target on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Finally, Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $255.00 to $280.00 in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nordson presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.20.

Nordson Stock Performance

NASDAQ:NDSN opened at $167.51 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $9.53 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The firm has a 50-day moving average price of $207.41 and a two-hundred day moving average price of $228.37. Nordson has a twelve month low of $165.07 and a twelve month high of $279.38.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The business had revenue of $615.42 million for the quarter, compared to analysts’ expectations of $639.40 million. As a group, research analysts expect that Nordson will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Thursday, March 20th. Nordson’s payout ratio is currently 39.69%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NDSN. Norges Bank purchased a new position in shares of Nordson in the 4th quarter valued at $142,670,000. Raymond James Financial Inc. acquired a new stake in Nordson in the 4th quarter valued at $74,005,000. First Trust Advisors LP lifted its stake in shares of Nordson by 676.5% during the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company’s stock worth $51,539,000 after purchasing an additional 214,594 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Nordson by 19,089.3% in the first quarter. GAMMA Investing LLC now owns 141,809 shares of the industrial products company’s stock worth $28,606,000 after buying an additional 141,070 shares during the period. Finally, FMR LLC grew its stake in shares of Nordson by 19.2% in the fourth quarter. FMR LLC now owns 693,627 shares of the industrial products company’s stock valued at $145,135,000 after buying an additional 111,538 shares in the last quarter. Hedge funds and other institutional investors 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.