KeyCorp Cuts Nordson (NASDAQ:NDSN) Price Target to $230.00

Nordson (NASDAQ:NDSN) had its price objective cut by KeyCorp from $260.00 to $230.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

NDSN has been the subject of a number of other reports. DA Davidson lowered their price objective on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and boosted their price target for the stock from $255.00 to $280.00 in a research report on Wednesday, January 22nd. Baird R W cut shares of Nordson from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Robert W. Baird restated a “neutral” rating and issued a $237.00 target price (down previously from $294.00) on shares of Nordson in a report on Friday, December 13th. Finally, BNP Paribas downgraded Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.20.

Nordson Stock Performance

Nordson stock opened at $181.04 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The stock has a market cap of $10.30 billion, a PE ratio of 23.03, a P/E/G ratio of 1.65 and a beta of 0.96. Nordson has a 12-month low of $165.03 and a 12-month high of $279.38. The business’s 50-day moving average price is $205.37 and its two-hundred day moving average price is $227.07.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The firm had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. As a group, analysts expect that Nordson will post 10.2 earnings per share for the current fiscal year.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, March 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.72%. Nordson’s dividend payout ratio is currently 39.69%.

Institutional Trading of Nordson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NDSN. MassMutual Private Wealth & Trust FSB boosted its holdings in Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 89 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Nordson by 26.1% in the 4th quarter. UMB Bank n.a. now owns 251 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 52 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Nordson by 73.7% in the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock valued at $57,000 after buying an additional 115 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Nordson during the fourth quarter valued at about $62,000. Finally, Brooklyn Investment Group increased its position in shares of Nordson by 695.0% during the fourth quarter. Brooklyn Investment Group now owns 318 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 278 shares in the last quarter. 72.11% of the stock is owned by 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.