StockNews.com Begins Coverage on Nordson (NASDAQ:NDSN)

Posted by Bob Marten on Mar 19th, 2023

StockNews.com started coverage on shares of Nordson (NASDAQ:NDSN – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, Robert W. Baird cut their target price on shares of Nordson from $259.00 to $241.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $255.20.

Nordson Price Performance

Nordson stock opened at $204.02 on Thursday. The company’s 50 day simple moving average is $232.18 and its 200-day simple moving average is $229.06. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. Nordson has a 1 year low of $194.89 and a 1 year high of $251.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 1.43.

Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). Nordson had a net margin of 19.18% and a return on equity of 23.67%. The company had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $625.87 million. During the same period last year, the firm posted $2.07 earnings per share. As a group, equities research analysts expect that Nordson will post 9.03 earnings per share for the current year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, February 17th. Nordson’s dividend payout ratio (DPR) is presently 30.30%.

Insiders Place Their Bets

In other Nordson news, EVP Jeffrey A. Pembroke sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $243.48, for a total transaction of $1,217,400.00. Following the completion of the transaction, the executive vice president now owns 17,600 shares in the company, valued at approximately $4,285,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Shelly Peet sold 1,692 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $235.00, for a total value of $397,620.00. Following the completion of the transaction, the executive vice president now owns 26,487 shares in the company, valued at approximately $6,224,445. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeffrey A. Pembroke sold 5,000 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $243.48, for a total transaction of $1,217,400.00. Following the completion of the transaction, the executive vice president now owns 17,600 shares of the company’s stock, valued at approximately $4,285,248. The disclosure for this sale can be found here. Insiders sold 10,403 shares of company stock worth $2,515,941 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NDSN. Salem Investment Counselors Inc. acquired a new position in shares of Nordson in the 2nd quarter valued at $31,000. Asset Dedication LLC boosted its holdings in shares of Nordson by 1,258.3% in the 4th quarter. Asset Dedication LLC now owns 163 shares of the industrial products company’s stock valued at $39,000 after buying an additional 151 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Nordson in the 2nd quarter valued at $46,000. Bessemer Group Inc. raised its position in Nordson by 33.1% in the 3rd quarter. Bessemer Group Inc. now owns 213 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 53 shares during the last quarter. Finally, Romano Brothers AND Company purchased a new stake in Nordson in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 70.40% of the company’s stock.

Nordson Company Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.