Nordson (NDSN) Hits New 52-Week Low at $110.75

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Shares of Nordson Co. (NASDAQ:NDSN) reached a new 52-week low during trading on Thursday . The company traded as low as $110.75 and last traded at $113.78, with a volume of 225368 shares traded. The stock had previously closed at $116.13.

A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. BidaskClub cut shares of Nordson from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. DA Davidson cut shares of Nordson from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a research note on Thursday, November 29th. Finally, ValuEngine raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Nordson presently has an average rating of “Hold” and an average target price of $151.57.

The company has a market capitalization of $6.72 billion, a P/E ratio of 21.13, a PEG ratio of 1.34 and a beta of 1.34. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.36 and a current ratio of 3.16.

Nordson declared that its board has authorized a share repurchase program on Tuesday, September 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In related news, Director Mary G. Puma sold 2,983 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total transaction of $433,847.52. Following the transaction, the director now directly owns 18,799 shares in the company, valued at $2,734,126.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.01% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of NDSN. Bank of Montreal Can boosted its position in Nordson by 1.9% during the second quarter. Bank of Montreal Can now owns 23,083 shares of the industrial products company’s stock worth $2,965,000 after acquiring an additional 426 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Nordson by 133.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,636 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 2,653 shares during the last quarter. Alps Advisors Inc. boosted its position in Nordson by 21.6% during the second quarter. Alps Advisors Inc. now owns 4,172 shares of the industrial products company’s stock worth $611,000 after acquiring an additional 742 shares during the last quarter. Victory Capital Management Inc. boosted its position in Nordson by 13.2% during the second quarter. Victory Capital Management Inc. now owns 19,097 shares of the industrial products company’s stock worth $2,452,000 after acquiring an additional 2,229 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Nordson during the second quarter worth about $1,772,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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About Nordson (NASDAQ:NDSN)

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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