Nordson (NASDAQ:NDSN) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a research note released on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research began coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a “peer perform” rating for the company. Robert W. Baird upped their price objective on shares of Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research note on Friday. Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They issued a “hold” rating and a $245.00 target price on the stock. Oppenheimer upgraded Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a research report on Friday, May 30th. Finally, KeyCorp boosted their price objective on Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.00.

Nordson Price Performance

NASDAQ:NDSN opened at $225.79 on Friday. The firm has a market cap of $12.69 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The stock has a 50 day moving average of $216.78 and a two-hundred day moving average of $206.73. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.10. Nordson had a return on equity of 19.45% and a net margin of 16.34%.The firm had revenue of $741.51 million for the quarter, compared to analyst estimates of $724.04 million. During the same period in the previous year, the company posted $2.41 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, analysts expect that Nordson will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.4%. Nordson’s dividend payout ratio (DPR) is 39.20%.

Hedge Funds Weigh In On Nordson

A number of hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in Nordson in the 1st quarter valued at about $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Nordson during the 2nd quarter worth approximately $31,000. CYBER HORNET ETFs LLC purchased a new position in shares of Nordson during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Nordson by 640.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 148 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 128 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in Nordson by 212.0% in the second quarter. NewSquare Capital LLC now owns 156 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 106 shares during the period. 72.11% of the stock is currently owned by hedge funds and other 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.