KeyCorp Forecasts Strong Price Appreciation for Nordson (NASDAQ:NDSN) Stock

Nordson (NASDAQ:NDSN - Free Report) had its price target upped by KeyCorp from $230.00 to $250.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.

Several other research analysts have also issued reports on NDSN. Wolfe Research started coverage on shares of Nordson in a research note on Wednesday, June 18th. They set a "peer perform" rating on the stock. Oppenheimer raised shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 target price on the stock in a research note on Friday, May 30th. Robert W. Baird increased their target price 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. Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price on the stock. Finally, Wall Street Zen lowered shares of Nordson from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.86.

Nordson Stock Down 0.5%

NASDAQ NDSN traded down $1.13 on Tuesday, hitting $216.34. 220,967 shares of the company were exchanged, compared to its average volume of 331,341. The company has a market cap of $12.23 billion, a PE ratio of 27.83, a PEG ratio of 1.64 and a beta of 0.89. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86. The stock has a fifty day moving average of $211.58 and a 200-day moving average of $206.16. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. Nordson's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 earnings per share. As a group, analysts forecast that Nordson will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, June 18th. Nordson's dividend payout ratio (DPR) is 40.10%.

Institutional Trading of Nordson

Several institutional investors and hedge funds have recently made changes to their positions in NDSN. Norges Bank purchased a new stake in shares of Nordson in the fourth quarter valued at about $142,670,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Nordson by 156.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company's stock valued at $205,685,000 after purchasing an additional 621,734 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Nordson by 676.5% in the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company's stock valued at $51,539,000 after purchasing an additional 214,594 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of Nordson by 118.5% in the second quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company's stock valued at $72,048,000 after purchasing an additional 182,305 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Nordson in the first quarter valued at about $29,125,000. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Company Profile

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.