Nordson (NASDAQ:NDSN) Now Covered by Analysts at Vertical Research

Vertical Research initiated coverage on shares of Nordson (NASDAQ:NDSN) in a report released on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $245.00 price objective on the industrial products company’s stock.

Several other research firms also recently commented on NDSN. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Friday, May 30th. KeyCorp reduced their target price on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Robert W. Baird increased their price objective on Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. Finally, BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 target price for the company. in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.00.

Nordson Price Performance

NDSN stock opened at $214.12 on Tuesday. The stock has a market cap of $12.10 billion, a PE ratio of 27.52, a P/E/G ratio of 1.68 and a beta of 0.89. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86. The company has a 50-day moving average price of $197.98 and a 200 day moving average price of $208.03. 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) last announced its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The business had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Nordson will post 10.2 earnings per share for the current year.

Nordson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.46%. Nordson’s dividend payout ratio (DPR) is presently 40.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC raised its holdings in Nordson by 9.9% in the first quarter. Inspire Investing LLC now owns 6,897 shares of the industrial products company’s stock worth $1,391,000 after purchasing an additional 621 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nordson by 4.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company’s stock worth $51,088,000 after buying an additional 9,679 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Nordson during the 1st quarter worth approximately $298,000. Caxton Associates LLP purchased a new stake in Nordson during the first quarter valued at approximately $458,000. Finally, UniSuper Management Pty Ltd boosted its stake in Nordson by 9.8% in the first quarter. UniSuper Management Pty Ltd now owns 9,120 shares of the industrial products company’s stock valued at $1,840,000 after acquiring an additional 811 shares in the last quarter. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

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.