Nordson (NASDAQ:NDSN) Upgraded at BidaskClub
NDSN has been the subject of a number of other research reports. ValuEngine upgraded Nordson from a hold rating to a buy rating in a report on Thursday, September 5th. DA Davidson reduced their price target on Nordson from $130.00 to $125.00 and set a neutral rating on the stock in a research report on Wednesday, August 21st. Zacks Investment Research lowered Nordson from a hold rating to a sell rating and set a $148.00 price target on the stock. in a research report on Monday, July 1st. Finally, Longbow Research set a $160.00 price target on Nordson and gave the stock a buy rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $143.00.
Shares of NASDAQ:NDSN traded down $0.03 during trading on Tuesday, reaching $146.77. 3,612 shares of the stock were exchanged, compared to its average volume of 194,518. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.57 and a current ratio of 2.21. Nordson has a 12-month low of $110.16 and a 12-month high of $149.23. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The firm’s 50-day moving average price is $136.95 and its 200 day moving average price is $136.67.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $0.38 per share. The ex-dividend date was Monday, August 26th. This is a positive change from Nordson’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 1.04%. Nordson’s payout ratio is 25.59%.
In other Nordson news, insider Gregory A. Thaxton sold 2,411 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $138.14, for a total value of $333,055.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael F. Hilton sold 8,538 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $146.81, for a total value of $1,253,463.78. Following the completion of the transaction, the insider now directly owns 210,917 shares in the company, valued at $30,964,724.77. The disclosure for this sale can be found here. Insiders have sold a total of 20,646 shares of company stock worth $2,939,691 over the last three months. 1.97% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NDSN. Geode Capital Management LLC raised its position in shares of Nordson by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 592,006 shares of the industrial products company’s stock valued at $70,655,000 after purchasing an additional 45,860 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Nordson by 130.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,900 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 1,076 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Nordson by 12.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,017 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 445 shares in the last quarter. Raymond James & Associates raised its position in shares of Nordson by 9.3% in the 1st quarter. Raymond James & Associates now owns 121,323 shares of the industrial products company’s stock valued at $16,078,000 after purchasing an additional 10,307 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Nordson by 15.7% in the 1st quarter. Independent Advisor Alliance now owns 6,828 shares of the industrial products company’s stock valued at $905,000 after purchasing an additional 924 shares in the last quarter. 68.81% of the stock is currently owned by 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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
Further Reading: Mutual Funds
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