Nordson (NDSN) Price Target Raised to $166.00 at SunTrust Banks
Nordson (NASDAQ:NDSN) had its target price hoisted by SunTrust Banks to $166.00 in a report released on Friday. The firm currently has a buy rating on the industrial products company’s stock. SunTrust Banks also issued estimates for Nordson’s Q3 2018 earnings at $1.92 EPS, Q1 2019 earnings at $1.24 EPS and FY2020 earnings at $7.24 EPS.
A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded Nordson from a sell rating to a buy rating and set a $140.00 price objective on the stock in a report on Tuesday, October 24th. FBR & Co set a $160.00 price objective on Nordson and gave the stock a buy rating in a report on Monday, September 11th. KeyCorp restated a buy rating and issued a $145.00 price objective on shares of Nordson in a report on Thursday, October 12th. Robert W. Baird restated a hold rating and issued a $138.00 price objective on shares of Nordson in a report on Wednesday, October 4th. Finally, Gabelli upgraded Nordson from a hold rating to a buy rating and set a $140.00 price objective on the stock in a report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $145.40.
Nordson (NASDAQ:NDSN) traded up $0.94 during trading hours on Friday, reaching $144.80. The company had a trading volume of 582,314 shares, compared to its average volume of 268,818. Nordson has a 12-month low of $107.16 and a 12-month high of $150.48. The firm has a market capitalization of $8,302.88, a P/E ratio of 26.79, a P/E/G ratio of 1.62 and a beta of 1.40. The company has a quick ratio of 1.47, a current ratio of 1.37 and a debt-to-equity ratio of 1.09.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, December 18th. This represents a $1.20 dividend on an annualized basis and a yield of 0.83%. Nordson’s payout ratio is currently 23.62%.
In other Nordson news, VP James E. Devries sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.15% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware bought a new stake in shares of Nordson in the second quarter valued at approximately $104,000. D.A. Davidson & CO. boosted its position in shares of Nordson by 2.3% in the second quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 22 shares during the period. IFP Advisors Inc boosted its position in shares of Nordson by 1.5% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 21 shares during the period. Quantbot Technologies LP boosted its position in shares of Nordson by 1,168.2% in the third quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 1,507 shares during the period. Finally, Opus Capital Group LLC bought a new stake in shares of Nordson in the second quarter valued at approximately $208,000. 65.76% of the stock is owned by institutional investors.
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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