Nordson (NASDAQ:NDSN) Reaches New 12-Month High at $276.09

Nordson Co. (NASDAQ:NDSN) reached a new 52-week high on Thursday . The company traded as high as $276.09 and last traded at $274.54, with a volume of 231150 shares. The stock had previously closed at $273.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com cut Nordson from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. KeyCorp reiterated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. DA Davidson increased their price target on Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company increased their price target on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson has a consensus rating of “Moderate Buy” and an average target price of $278.00.

Nordson Stock Up 0.3 %

The firm has a 50 day moving average price of $262.25 and a 200-day moving average price of $244.08. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The firm has a market cap of $15.70 billion, a PE ratio of 32.10, a PEG ratio of 2.02 and a beta of 1.00.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $630.77 million. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. Research analysts forecast that Nordson Co. will post 10.22 EPS for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, February 16th. Nordson’s payout ratio is presently 31.81%.

Insider Activity

In other news, EVP Stephen Lovass sold 1,213 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $250.13, for a total transaction of $303,407.69. Following the sale, the executive vice president now owns 7,379 shares of the company’s stock, valued at approximately $1,845,709.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Srinivas Subramanian sold 2,100 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $250.79, for a total transaction of $526,659.00. Following the sale, the executive vice president now owns 4,565 shares of the company’s stock, valued at approximately $1,144,856.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Lovass sold 1,213 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $250.13, for a total value of $303,407.69. Following the sale, the executive vice president now directly owns 7,379 shares in the company, valued at approximately $1,845,709.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,313 shares of company stock worth $1,347,427. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nordson

Several hedge funds and other institutional investors have recently made changes to their positions in NDSN. Envestnet Asset Management Inc. increased its position in Nordson by 48.4% during the third quarter. Envestnet Asset Management Inc. now owns 231,363 shares of the industrial products company’s stock worth $51,633,000 after buying an additional 75,466 shares during the period. Morgan Stanley increased its position in Nordson by 9.2% during the third quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company’s stock worth $310,534,000 after buying an additional 117,337 shares during the period. Vest Financial LLC increased its position in Nordson by 34.1% during the fourth quarter. Vest Financial LLC now owns 124,251 shares of the industrial products company’s stock worth $32,822,000 after buying an additional 31,605 shares during the period. Qube Research & Technologies Ltd increased its position in Nordson by 1,500.5% during the third quarter. Qube Research & Technologies Ltd now owns 60,868 shares of the industrial products company’s stock worth $13,584,000 after buying an additional 57,065 shares during the period. Finally, Stifel Financial Corp increased its position in Nordson by 1.6% during the third quarter. Stifel Financial Corp now owns 129,378 shares of the industrial products company’s stock worth $28,874,000 after buying an additional 2,093 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.