Nordson (NASDAQ:NDSN) Sets New 12-Month Low After Analyst Downgrade

Shares of Nordson Co. (NASDAQ:NDSN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after KeyCorp lowered their price target on the stock from $260.00 to $230.00. KeyCorp currently has an overweight rating on the stock. Nordson traded as low as $165.03 and last traded at $184.81, with a volume of 404230 shares. The stock had previously closed at $167.51.

NDSN has been the topic of several other research reports. Robert W. Baird reaffirmed a "neutral" rating and set a $237.00 target price (down previously from $294.00) on shares of Nordson in a research note on Friday, December 13th. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a research report on Monday, February 24th. Seaport Res Ptn upgraded Nordson from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. DA Davidson reduced their target price on shares of Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Finally, Baird R W cut shares of Nordson from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nordson presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.20.

Institutional Investors Weigh In On Nordson

Institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC grew its position in shares of Nordson by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 5,514 shares of the industrial products company's stock valued at $1,448,000 after buying an additional 68 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Nordson by 8.3% in the third quarter. Sanctuary Advisors LLC now owns 17,311 shares of the industrial products company's stock valued at $4,523,000 after acquiring an additional 1,326 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Nordson by 1.8% during the third quarter. Tidal Investments LLC now owns 14,181 shares of the industrial products company's stock worth $3,724,000 after purchasing an additional 257 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Nordson by 6.2% during the third quarter. Franklin Resources Inc. now owns 84,697 shares of the industrial products company's stock worth $21,841,000 after purchasing an additional 4,919 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Nordson by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 295,962 shares of the industrial products company's stock valued at $77,723,000 after purchasing an additional 13,184 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company's stock.

Nordson Trading Down 0.6 %

The business has a 50-day moving average of $204.74 and a 200-day moving average of $226.35. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a return on equity of 19.28% and a net margin of 16.93%. The business had revenue of $615.42 million for the quarter, compared to analysts' expectations of $639.40 million. As a group, research analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, March 20th. Nordson's payout ratio is currently 39.69%.

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.