Nordson (NASDAQ:NDSN) Sets New 1-Year Low on Analyst Downgrade

Nordson Co. (NASDAQ:NDSN) reached a new 52-week low during trading on Wednesday after KeyCorp lowered their price target on the stock from $260.00 to $230.00. KeyCorp currently has an overweight rating on the stock. Nordson traded as low as $165.03 and last traded at $184.81, with a volume of 404230 shares changing hands. The stock had previously closed at $167.51.

Other research analysts have also issued reports about the company. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price on the stock. in a research report on Monday, February 24th. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Loop Capital raised shares of Nordson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $255.00 to $280.00 in a report on Wednesday, January 22nd. Robert W. Baird restated a “neutral” rating and issued a $237.00 target price (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. Finally, DA Davidson cut their price objective on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and a consensus price target of $250.20.

Hedge Funds Weigh In On Nordson

A number of institutional investors have recently modified their holdings of NDSN. Norges Bank acquired a new stake in Nordson during the fourth quarter worth about $142,670,000. Raymond James Financial Inc. acquired a new stake in shares of Nordson during the 4th quarter worth approximately $74,005,000. First Trust Advisors LP lifted its stake in shares of Nordson by 676.5% in the 4th quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company’s stock valued at $51,539,000 after purchasing an additional 214,594 shares during the period. GAMMA Investing LLC boosted its holdings in Nordson by 19,089.3% during 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 in the last quarter. Finally, FMR LLC grew its position in Nordson by 19.2% during 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 during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Trading Up 10.6 %

The company’s 50-day moving average is $207.41 and its 200 day moving average is $228.37. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $639.40 million. Research analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson’s payout ratio is 39.69%.

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.