Zacks Investment Research Lowers Nordson (NDSN) to Hold
Zacks Investment Research cut shares of Nordson (NASDAQ:NDSN) from a buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “In the last three months, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from diversified product portfolio and strategic acquisitions in the long run. In March, the company acquired assets of Vention Medical's Advanced Technologies business. Also, it remains committed toward rewarding its shareholders through dividend payments and share buybacks. In the last 60 days, earnings estimates improved for fiscal 2018. However, the company is exposed to risks arising from international diversity and higher costs and debt levels. Also, difficulties or delays in research and development of products, failure of new products and technologies and intense competition might dent the company's profitability. For the fiscal fourth quarter, the company anticipates net sales to grow 4-8% year over year, weaker compared with 20% sales growth recorded in the previous quarter.”
Several other research analysts have also commented on NDSN. BidaskClub lowered Nordson from a strong-buy rating to a buy rating in a report on Friday, August 18th. Gabelli upgraded Nordson from a hold rating to a buy rating and set a $140.00 price target on the stock in a report on Wednesday, August 23rd. Robert W. Baird reiterated a hold rating and set a $128.00 price target on shares of Nordson in a report on Thursday, August 24th. FBR & Co set a $160.00 price target on Nordson and gave the stock a buy rating in a report on Monday, September 11th. Finally, Longbow Research upgraded Nordson from a neutral rating to a buy rating and set a $140.00 price target on the stock in a report on Wednesday, September 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $140.33.
Nordson (NASDAQ NDSN) opened at $127.31 on Thursday. Nordson has a fifty-two week low of $103.76 and a fifty-two week high of $131.49. The company has a current ratio of 2.10, a quick ratio of 1.47 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $7,340.00, a price-to-earnings ratio of 23.66, a PEG ratio of 1.47 and a beta of 1.39.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $1.20 annualized dividend and a yield of 0.94%. Nordson’s dividend payout ratio (DPR) is currently 24.00%.
In related news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $118.01, for a total value of $590,050.00. Following the sale, the vice president now directly owns 41,937 shares in the company, valued at approximately $4,948,985.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.15% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware purchased a new stake in Nordson in the 2nd quarter valued at about $104,000. D.A. Davidson & CO. raised its holdings in Nordson by 2.3% in the 2nd quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock valued at $118,000 after buying an additional 22 shares during the period. IFP Advisors Inc raised its holdings in Nordson by 1.5% in the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after buying an additional 21 shares during the period. Quantbot Technologies LP raised its holdings in Nordson by 1,168.2% in the 3rd quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock valued at $193,000 after buying an additional 1,507 shares during the period. Finally, Opus Capital Group LLC purchased a new stake in Nordson in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 65.76% of the company’s stock.
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Nordson Company Profile
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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