Nordson (NASDAQ:NDSN)‘s stock had its “market perform” rating reiterated by stock analysts at Wells Fargo & Co in a note issued to investors on Monday, MarketBeat reports. They currently have a $140.00 target price on the industrial products company’s stock, down from their previous target price of $155.00. Wells Fargo & Co’s target price points to a potential upside of 1.05% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also weighed in on NDSN. B. Riley restated a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. KeyCorp restated a “buy” rating and set a $145.00 price target on shares of Nordson in a research note on Sunday, November 19th. Zacks Investment Research lowered Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. BidaskClub lowered Nordson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Oppenheimer restated a “hold” rating on shares of Nordson in a research note on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $152.40.
Nordson (NASDAQ NDSN) traded up $2.00 on Monday, reaching $138.55. The company’s stock had a trading volume of 291,600 shares, compared to its average volume of 264,533. Nordson has a 52 week low of $107.16 and a 52 week high of $151.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.07. The stock has a market capitalization of $7,916.21, a price-to-earnings ratio of 23.30, a PEG ratio of 1.66 and a beta of 1.30.
In related news, VP James E. Devries sold 5,800 shares of Nordson stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $148.86, for a total transaction of $863,388.00. Following the completion of the sale, the vice president now owns 46,222 shares of the company’s stock, valued at $6,880,606.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Stockunas sold 5,000 shares of Nordson stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $146.13, for a total value of $730,650.00. Following the sale, the vice president now directly owns 14,933 shares of the company’s stock, valued at approximately $2,182,159.29. The disclosure for this sale can be found here. Insiders have sold 84,597 shares of company stock valued at $12,623,580 in the last ninety days. Corporate insiders own 2.01% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC lifted its holdings in Nordson by 85.3% in the third quarter. TimesSquare Capital Management LLC now owns 1,151,500 shares of the industrial products company’s stock valued at $136,453,000 after acquiring an additional 530,100 shares during the period. Wells Fargo & Company MN lifted its holdings in Nordson by 107.7% in the fourth quarter. Wells Fargo & Company MN now owns 970,315 shares of the industrial products company’s stock valued at $142,053,000 after acquiring an additional 503,093 shares during the period. Schroder Investment Management Group lifted its holdings in Nordson by 75.1% in the fourth quarter. Schroder Investment Management Group now owns 484,365 shares of the industrial products company’s stock valued at $70,910,000 after acquiring an additional 207,792 shares during the period. Brown Advisory Inc. lifted its holdings in Nordson by 3,862.1% in the third quarter. Brown Advisory Inc. now owns 189,944 shares of the industrial products company’s stock valued at $22,509,000 after acquiring an additional 185,150 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Nordson in the fourth quarter valued at approximately $17,035,000. 66.96% of the stock is owned by hedge funds and other institutional investors.
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Nordson Company Profile
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.
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