Nordson’s (NDSN) Buy Rating Reaffirmed at KeyCorp

KeyCorp reissued their buy rating on shares of Nordson (NASDAQ:NDSN) in a research note published on Wednesday. KeyCorp currently has a $165.00 price target on the industrial products company’s stock, up from their previous price target of $145.00. KeyCorp also issued estimates for Nordson’s Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.54 EPS, Q3 2018 earnings at $1.91 EPS, Q4 2018 earnings at $1.49 EPS, FY2018 earnings at $6.30 EPS and FY2019 earnings at $7.00 EPS.

NDSN has been the subject of several other research reports. SunTrust Banks reaffirmed a buy rating and issued a $135.00 price objective on shares of Nordson in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of Nordson from a hold rating to a sell rating in a research report on Tuesday, October 17th. Robert W. Baird reissued a hold rating and set a $138.00 price target on shares of Nordson in a research report on Wednesday, October 4th. FBR & Co set a $160.00 price target on shares of Nordson and gave the stock a buy rating in a research report on Monday, September 11th. Finally, B. Riley reissued a buy rating and set a $160.00 price target on shares of Nordson in a research report on Wednesday, December 13th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $147.40.

Shares of Nordson (NASDAQ NDSN) traded up $1.06 during trading hours on Wednesday, reaching $150.18. 593,400 shares of the company’s stock traded hands, compared to its average volume of 365,367. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.37 and a quick ratio of 0.96. Nordson has a one year low of $107.16 and a one year high of $151.44. The firm has a market capitalization of $8,620.00, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.39.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. Nordson had a net margin of 14.31% and a return on equity of 30.54%. The company had revenue of $574.00 million during the quarter, compared to the consensus estimate of $546.76 million. During the same quarter last year, the company earned $1.39 earnings per share. Nordson’s revenue for the quarter was up 12.8% on a year-over-year basis. equities research analysts anticipate that Nordson will post 6.24 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Monday, December 18th. Nordson’s payout ratio is currently 23.86%.

In other news, VP Robert E. Veillette sold 1,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $142.19, for a total transaction of $226,650.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.15% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in Nordson by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 79,137 shares of the industrial products company’s stock worth $9,601,000 after purchasing an additional 1,751 shares during the period. FMR LLC boosted its holdings in Nordson by 26.9% in the second quarter. FMR LLC now owns 455,680 shares of the industrial products company’s stock worth $55,283,000 after purchasing an additional 96,598 shares during the period. Strs Ohio boosted its holdings in Nordson by 54.5% in the third quarter. Strs Ohio now owns 85,000 shares of the industrial products company’s stock worth $10,072,000 after purchasing an additional 30,000 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Nordson in the third quarter worth $860,000. Finally, Dupont Capital Management Corp boosted its holdings in Nordson by 73.3% in the third quarter. Dupont Capital Management Corp now owns 8,494 shares of the industrial products company’s stock worth $1,007,000 after purchasing an additional 3,592 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

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About Nordson

Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.

Analyst Recommendations for Nordson (NASDAQ:NDSN)

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