Nordson (NASDAQ:NDSN) Earns Hold Rating from Analysts at Vertical Research

Vertical Research initiated coverage on shares of Nordson (NASDAQ:NDSN) in a research note published on Tuesday morning, Marketbeat reports. The firm issued a hold rating and a $245.00 price target on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a report on Monday, February 24th. Robert W. Baird upped their target price on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. KeyCorp lowered their target price on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.00.

Nordson Stock Performance

NASDAQ:NDSN opened at $213.53 on Tuesday. The firm’s 50-day moving average is $199.16 and its 200-day moving average is $207.76. Nordson has a 52-week low of $165.03 and a 52-week high of $266.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.64 and a beta of 0.89.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The company had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same quarter in the previous year, the firm posted $2.34 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Nordson will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a $0.78 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.46%. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

Hedge Funds Weigh In On Nordson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York Life Investment Management LLC boosted its position in Nordson by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock valued at $1,530,000 after buying an additional 49 shares in the last quarter. Harbour Investments Inc. boosted its position in Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 54 shares in the last quarter. Wedbush Securities Inc. boosted its position in Nordson by 2.2% in the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock valued at $553,000 after buying an additional 58 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Nordson by 4.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company’s stock valued at $312,000 after buying an additional 66 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Nordson by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company’s stock valued at $486,000 after buying an additional 67 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

About Nordson

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.