Nordson (NASDAQ:NDSN) Price Target Raised to $250.00

Nordson (NASDAQ:NDSN) had its price target raised by KeyCorp from $230.00 to $250.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

NDSN has been the subject of a number of other reports. Wolfe Research began coverage on shares of Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating for the company. Oppenheimer upgraded Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target for the company in a report on Friday, May 30th. Robert W. Baird raised their price objective on Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Vertical Research assumed coverage on Nordson in a research report on Tuesday, June 17th. They issued a “hold” rating and a $245.00 price objective for the company. Finally, Wall Street Zen downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $254.86.

Nordson Trading Up 2.1%

Shares of NDSN opened at $217.47 on Tuesday. 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 1-year low of $165.03 and a 1-year high of $266.86. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.89. The firm has a 50 day simple moving average of $211.58 and a 200-day simple moving average of $206.16.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The company had revenue of $682.94 million during the quarter, compared to analysts’ expectations of $671.36 million. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts forecast that Nordson will post 10.2 EPS for the current fiscal year.

Nordson Announces Dividend

The company 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. This represents a $3.12 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Wednesday, June 18th. Nordson’s payout ratio is currently 40.10%.

Institutional Investors Weigh In On Nordson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Washington Capital Management Inc. grew its holdings in shares of Nordson by 68.8% during the 2nd quarter. Washington Capital Management Inc. now owns 2,700 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 1,100 shares during the period. V Square Quantitative Management LLC grew its stake in Nordson by 8.8% during the second quarter. V Square Quantitative Management LLC now owns 1,064 shares of the industrial products company’s stock worth $228,000 after buying an additional 86 shares during the period. Norris Perne & French LLP MI increased its position in shares of Nordson by 0.5% in the second quarter. Norris Perne & French LLP MI now owns 62,109 shares of the industrial products company’s stock worth $13,314,000 after acquiring an additional 323 shares in the last quarter. Crown Oak Advisors LLC raised its stake in shares of Nordson by 1.1% in the 2nd quarter. Crown Oak Advisors LLC now owns 38,925 shares of the industrial products company’s stock valued at $8,344,000 after acquiring an additional 435 shares during the period. Finally, Patton Fund Management Inc. purchased a new position in shares of Nordson in the 2nd quarter valued at $251,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

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.