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

Nordson Co. (NASDAQ:NDSN) shares reached a new 52-week low 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 traded. The stock had previously closed at $167.51.

A number of other equities research analysts have also issued reports on the company. BNP Paribas lowered Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a research note 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 lowered their price target on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Robert W. Baird reissued a “neutral” rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. Finally, Loop Capital raised Nordson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and an average price target of $250.20.

Institutional Investors Weigh In On Nordson

Several institutional investors have recently modified their holdings of the stock. New York Life Investment Management LLC raised its holdings in Nordson by 0.7% during 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 buying an additional 49 shares during the period. UMB Bank n.a. raised its stake in shares of Nordson by 26.1% in the fourth quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 52 shares during the period. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Nordson by 1.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock worth $692,000 after acquiring an additional 56 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nordson by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 58 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Nordson by 4.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 66 shares during the last quarter. 72.11% of the stock is owned by institutional investors.

Nordson Price Performance

The stock’s 50-day moving average is $206.08 and its two-hundred day moving average is $227.61. The company has a market capitalization of $10.66 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). The business had revenue of $615.42 million for the quarter, compared to the consensus estimate of $639.40 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. On average, equities analysts predict that Nordson Co. will post 10.2 EPS for the current year.

Nordson Announces Dividend

The business also recently declared 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 1.67%. The ex-dividend date was Thursday, March 20th. Nordson’s payout ratio is presently 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.