Robert W. Baird Cuts Nordson (NASDAQ:NDSN) Price Target to $272.00

Nordson (NASDAQ:NDSN) had its price objective reduced by Robert W. Baird from $303.00 to $272.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

NDSN has been the subject of a number of other research reports. DA Davidson boosted their target price on Nordson from $290.00 to $315.00 and gave the stock a buy rating in a report on Tuesday, February 27th. KeyCorp reissued a sector weight rating on shares of Nordson in a research report on Monday, February 26th. StockNews.com upgraded Nordson from a hold rating to a buy rating in a research note on Monday, May 20th. Finally, Wells Fargo & Company increased their price target on Nordson from $290.00 to $315.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $277.83.

Nordson Trading Up 0.0 %

Shares of NDSN stock opened at $237.94 on Wednesday. The firm has a 50-day moving average price of $265.54 and a 200 day moving average price of $256.52. Nordson has a twelve month low of $208.91 and a twelve month high of $279.38. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.92 and a beta of 1.00. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.30 by $0.04. The company had revenue of $650.64 million during the quarter, compared to analysts’ expectations of $661.06 million. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 EPS. Research analysts forecast that Nordson will post 9.51 earnings per share for the current fiscal year.

Nordson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 20th. This represents a $2.72 annualized dividend and a yield of 1.14%. Nordson’s dividend payout ratio is currently 32.42%.

Institutional Investors Weigh In On Nordson

Several hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC lifted its holdings in shares of Nordson by 82.9% during the first quarter. Cetera Advisors LLC now owns 4,764 shares of the industrial products company’s stock valued at $1,308,000 after purchasing an additional 2,159 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Nordson by 422.3% during the 1st quarter. Cetera Investment Advisers now owns 14,378 shares of the industrial products company’s stock valued at $3,947,000 after acquiring an additional 11,625 shares during the last quarter. Atria Investments Inc grew its holdings in Nordson by 3.9% in the 1st quarter. Atria Investments Inc now owns 13,265 shares of the industrial products company’s stock valued at $3,642,000 after buying an additional 501 shares during the last quarter. Swedbank AB bought a new stake in shares of Nordson in the 1st quarter worth approximately $48,044,000. Finally, iA Global Asset Management Inc. lifted its position in shares of Nordson by 60.1% in the 1st quarter. iA Global Asset Management Inc. now owns 2,076 shares of the industrial products company’s stock worth $570,000 after acquiring an additional 779 shares during the period. 72.11% of the stock is 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.