Nordson (NASDAQ:NDSN) Cut to “Hold” at Baird R W

Baird R W cut shares of Nordson (NASDAQ:NDSN) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

Several other research analysts have also weighed in on NDSN. DA Davidson cut their target price on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $237.00 price target (down from $294.00) on shares of Nordson in a report on Friday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson presently has a consensus rating of “Hold” and an average target price of $279.00.

Nordson Trading Down 1.2 %

Shares of Nordson stock opened at $226.46 on Friday. Nordson has a fifty-two week low of $222.18 and a fifty-two week high of $279.38. The firm has a market cap of $12.95 billion, a PE ratio of 27.92, a P/E/G ratio of 1.85 and a beta of 0.90. The business’s fifty day moving average is $253.99 and its two-hundred day moving average is $245.93. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49.

Nordson (NASDAQ:NDSN) last issued its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.19. The business had revenue of $744.00 million for the quarter, compared to analyst estimates of $736.83 million. Nordson had a return on equity of 20.12% and a net margin of 17.37%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Analysts anticipate that Nordson will post 10.35 earnings per share for the current year.

Insider Activity at Nordson

In other news, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction of $749,940.00. Following the completion of the sale, the executive vice president now directly owns 8,659 shares in the company, valued at $2,164,576.82. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Mcdonough sold 225 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the sale, the executive vice president now owns 3,287 shares of the company’s stock, valued at $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,629 shares of company stock worth $914,400. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Nordson

Several large investors have recently modified their holdings of the stock. Procyon Advisors LLC lifted its position in shares of Nordson by 2.9% during the third quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 39 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Nordson by 1.0% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company’s stock worth $1,052,000 after purchasing an additional 39 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Nordson by 1.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 42 shares during the last quarter. Covestor Ltd lifted its position in shares of Nordson by 18.8% during the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 43 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Nordson by 0.6% in the second quarter. Van ECK Associates Corp now owns 7,724 shares of the industrial products company’s stock worth $1,792,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

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.