Zacks Investment Research upgraded shares of Nordson Corporation (NASDAQ:NDSN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Over the long term, Nordson is poised to benefit from diversified product portfolio and strategic acquisitions. 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. 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. Over the last three months, Nordson's shares have underperformed the industry. 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.”
NDSN has been the topic of a number of other reports. Robert W. Baird reaffirmed a hold rating and set a $128.00 price target on shares of Nordson Corporation in a research report on Thursday, August 24th. FBR & Co set a $160.00 price target on shares of Nordson Corporation and gave the company a buy rating in a research report on Monday, September 11th. BidaskClub cut shares of Nordson Corporation from a buy rating to a hold rating in a research report on Friday, August 25th. Wellington Shields raised shares of Nordson Corporation from a hold rating to a gradually accumulate rating in a research report on Friday, June 2nd. Finally, Gabelli raised shares of Nordson Corporation from a hold rating to a buy rating and set a $140.00 price target on the stock in a research report on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $138.00.
Shares of Nordson Corporation (NDSN) opened at 113.20 on Wednesday. Nordson Corporation has a 12-month low of $95.35 and a 12-month high of $131.49. The firm’s 50-day moving average is $118.50 and its 200-day moving average is $121.62. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 22.51 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last announced its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.12. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $574.20 million. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. Nordson Corporation’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Equities research analysts forecast that Nordson Corporation will post $5.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.30 per share. This is a boost from Nordson Corporation’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, August 18th. Nordson Corporation’s payout ratio is presently 23.90%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Colony Group LLC acquired a new position in shares of Nordson Corporation during the second quarter worth $2,256,000. Koch Industries Inc. acquired a new position in shares of Nordson Corporation during the second quarter worth $425,000. Ameritas Investment Partners Inc. lifted its position in shares of Nordson Corporation by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 17,840 shares of the industrial products company’s stock worth $2,164,000 after purchasing an additional 264 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Nordson Corporation during the second quarter worth $414,000. Finally, Atlanta Capital Management Co. L L C lifted its position in shares of Nordson Corporation by 91.2% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock worth $215,658,000 after purchasing an additional 848,006 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors and hedge funds.
About Nordson Corporation
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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