Nordson (NASDAQ:NDSN) Rating Increased to Buy at Loop Capital

Loop Capital upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a research report released on Wednesday, Marketbeat.com reports. They currently have $280.00 target price on the industrial products company’s stock, up from their previous target price of $255.00.

Several other equities research analysts also recently weighed in on NDSN. Seaport Res Ptn raised shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Baird R W cut Nordson from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Robert W. Baird reiterated a “neutral” rating and issued a $237.00 target price (down previously from $294.00) on shares of Nordson in a research report on Friday, December 13th. Finally, DA Davidson dropped their price target on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Four equities 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $279.25.

Nordson Stock Down 0.3 %

Shares of NASDAQ NDSN opened at $219.41 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.41. Nordson has a 1 year low of $196.83 and a 1 year high of $279.38. The stock’s 50-day simple moving average is $229.75 and its 200-day simple moving average is $242.13. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.63 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The company had revenue of $744.00 million for the quarter, compared to analyst estimates of $736.83 million. During the same period in the prior year, the company posted $2.46 EPS. Nordson’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Nordson will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, January 2nd. Nordson’s dividend payout ratio is presently 38.47%.

Insider Buying and Selling at Nordson

In related news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now directly owns 7,347 shares in the company, valued at $1,519,286.13. This trade represents a 15.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the completion of the transaction, the executive vice president now owns 3,287 shares of the company’s stock, valued at approximately $862,081.49. This trade represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,928 shares of company stock worth $433,080. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. lifted its holdings in Nordson by 13.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock worth $45,533,000 after purchasing an additional 20,217 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nordson by 10.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock worth $135,138,000 after acquiring an additional 48,720 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Nordson by 23.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after acquiring an additional 61,430 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Nordson by 47.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock worth $4,117,000 after purchasing an additional 5,046 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in Nordson by 113.8% in the third quarter. Holocene Advisors LP now owns 29,170 shares of the industrial products company’s stock worth $7,661,000 after purchasing an additional 15,524 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

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.