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

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

A number of other equities analysts also recently commented on NDSN. StockNews.com raised shares of Nordson from a hold rating to a buy rating in a research note on Monday, May 20th. DA Davidson lifted their target price on shares of Nordson from $290.00 to $315.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Wells Fargo & Company boosted their price target on shares of Nordson from $290.00 to $315.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Finally, KeyCorp reissued a sector weight rating on shares of Nordson in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Nordson presently has an average rating of Moderate Buy and a consensus target price of $277.83.

Nordson Stock Performance

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

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

Nordson Dividend Announcement

The firm 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. This represents a $2.72 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, May 20th. Nordson’s payout ratio is currently 32.42%.

Institutional Investors Weigh In On Nordson

Several large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Nordson by 48.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 231,363 shares of the industrial products company’s stock valued at $51,633,000 after buying an additional 75,466 shares in the last quarter. Beacon Pointe Advisors LLC raised its position in Nordson by 4.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,961 shares of the industrial products company’s stock worth $782,000 after buying an additional 133 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Nordson during the 4th quarter worth $1,192,000. Assenagon Asset Management S.A. increased its holdings in shares of Nordson by 918.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 12,063 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 10,878 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Nordson by 2.3% in the 4th quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 45 shares in the last quarter. 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.