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

Nordson (NASDAQ:NDSN) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other analysts also recently issued reports on NDSN. DA Davidson decreased their price objective on shares of Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird reissued a “neutral” rating and set a $237.00 target price (down from $294.00) on shares of Nordson in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $279.00.

Nordson Price Performance

Nordson stock opened at $226.46 on Friday. Nordson has a 52 week low of $222.18 and a 52 week high of $279.38. The company’s 50 day moving average price is $253.99 and its two-hundred day moving average price is $245.73. The stock has a market cap of $12.95 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.85 and a beta of 0.90. 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 quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates 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%. Nordson’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. On average, equities analysts predict that Nordson will post 10.35 earnings per share for the current year.

Insider Activity at Nordson

In other news, EVP Stephen Lovass sold 317 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the transaction, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at $1,738,159.50. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Mcdonough sold 225 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $862,081.49. The trade was 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 have sold 3,629 shares of company stock worth $914,400. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NDSN. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nordson by 20.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,250 shares of the industrial products company’s stock worth $986,000 after buying an additional 714 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Nordson by 7.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,797 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 465 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Nordson by 61.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 31,146 shares of the industrial products company’s stock valued at $7,224,000 after purchasing an additional 11,875 shares during the period. Raymond James & Associates grew its position in shares of Nordson by 8.9% during the 2nd quarter. Raymond James & Associates now owns 312,493 shares of the industrial products company’s stock valued at $72,480,000 after purchasing an additional 25,506 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Nordson by 66.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,756 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 704 shares in the last quarter. Hedge funds and other 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.