DA Davidson Trims Nordson (NASDAQ:NDSN) Target Price to $295.00

Nordson (NASDAQ:NDSN) had its target price lowered by DA Davidson from $315.00 to $295.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Nordson’s Q3 2024 earnings at $2.35 EPS, FY2024 earnings at $9.55 EPS and FY2025 earnings at $10.60 EPS.

A number of other analysts have also issued reports on the stock. KeyCorp restated a sector weight rating on shares of Nordson in a research report on Monday, February 26th. Wells Fargo & Company raised their target price on shares of Nordson from $290.00 to $315.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Nordson from a hold rating to a buy rating in a research report on Monday, May 20th. Finally, Robert W. Baird decreased their target price on shares of Nordson from $303.00 to $272.00 and set an outperform rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $277.83.

Nordson Trading Up 0.0 %

NASDAQ NDSN opened at $237.94 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.51. 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 52-week low of $208.91 and a 52-week high of $279.38. The stock has a market capitalization of $13.61 billion, a P/E ratio of 28.36, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $661.06 million. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that Nordson will post 9.51 EPS for the current year.

Nordson Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is 32.42%.

Institutional Investors Weigh In On Nordson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tobam grew its holdings in Nordson by 2,275.0% during the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 91 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Nordson during the 4th quarter worth $26,000. Sound Income Strategies LLC acquired a new position in Nordson during the 4th quarter worth $27,000. Fortitude Family Office LLC acquired a new position in Nordson during the 4th quarter worth $28,000. Finally, Smithfield Trust Co grew its holdings in Nordson by 105.6% during the 3rd quarter. Smithfield Trust Co now owns 146 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Nordson Company Profile

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.