Nordson Co. (NASDAQ:NDSN) Receives $253.17 Average Price Target from Brokerages

Nordson Co. (NASDAQ:NDSN) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $253.17.

A number of equities analysts have commented on NDSN shares. KeyCorp decreased their price target on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird boosted their target price on Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Wall Street Zen raised Nordson from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a report on Friday, May 30th. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price on the stock. in a report on Monday, February 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Inspire Investing LLC lifted its holdings in Nordson by 9.9% in the first quarter. Inspire Investing LLC now owns 6,897 shares of the industrial products company’s stock valued at $1,391,000 after acquiring an additional 621 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nordson by 4.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company’s stock valued at $51,088,000 after acquiring an additional 9,679 shares during the period. MBB Public Markets I LLC bought a new position in shares of Nordson in the first quarter worth about $298,000. Caxton Associates LLP bought a new position in shares of Nordson in the first quarter worth about $458,000. Finally, UniSuper Management Pty Ltd raised its stake in shares of Nordson by 9.8% in the first quarter. UniSuper Management Pty Ltd now owns 9,120 shares of the industrial products company’s stock worth $1,840,000 after buying an additional 811 shares during the period. Institutional investors own 72.11% of the company’s stock.

Nordson Trading Down 1.9%

Shares of NDSN opened at $219.28 on Friday. Nordson has a fifty-two week low of $165.03 and a fifty-two week high of $266.86. The business has a 50-day moving average of $194.55 and a 200 day moving average of $209.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. The firm has a market cap of $12.39 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. The firm had revenue of $682.94 million during the quarter, compared to the consensus estimate of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. As a group, research analysts forecast that Nordson will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, June 18th. Nordson’s dividend payout ratio is 40.10%.

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.