Nordson Corporation (NASDAQ:NDSN) Given Average Recommendation of "Moderate Buy" by Analysts

Nordson Corporation (NASDAQ:NDSN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $252.00.

NDSN has been the topic of several analyst reports. Robert W. Baird boosted their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. KeyCorp reduced their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen cut shares of Nordson from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Wolfe Research assumed coverage on shares of Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating on the stock. Finally, Vertical Research assumed coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a "hold" rating and a $245.00 price target on the stock.

Nordson Price Performance

NASDAQ:NDSN traded up $0.08 during mid-day trading on Wednesday, reaching $222.83. The stock had a trading volume of 169,670 shares, compared to its average volume of 329,955. The stock has a 50-day simple moving average of $206.44 and a two-hundred day simple moving average of $205.61. The stock has a market capitalization of $12.59 billion, a PE ratio of 28.64, a P/E/G ratio of 1.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analysts' expectations of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, equities analysts anticipate that Nordson will post 10.2 earnings per share for the current year.

Nordson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.40%. Nordson's dividend payout ratio is presently 40.10%.

Institutional Investors Weigh In On Nordson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York Life Investment Management LLC boosted its holdings in Nordson by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock valued at $1,530,000 after purchasing an additional 49 shares during the period. Harbour Investments Inc. raised its position in shares of Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after buying an additional 54 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of Nordson by 2.2% during the 1st quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company's stock valued at $553,000 after buying an additional 58 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Nordson by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock valued at $486,000 after buying an additional 67 shares in the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Nordson by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company's stock valued at $379,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors 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.