Nordson (NASDAQ:NDSN) Sets New 1-Year Low – Here’s What Happened

Nordson Co. (NASDAQ:NDSN)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $206.80 and last traded at $207.46, with a volume of 19965 shares traded. The stock had previously closed at $211.27.

Analyst Upgrades and Downgrades

NDSN has been the topic of a number of recent analyst reports. Robert W. Baird restated a “neutral” rating and issued a $237.00 price target (down from $294.00) on shares of Nordson in a research report on Friday, December 13th. DA Davidson reduced their target price on Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Baird R W cut Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Seaport Res Ptn upgraded Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $279.00.

Nordson Price Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.41 and a quick ratio of 1.52. The company’s 50 day moving average price is $245.72 and its 200 day moving average price is $244.87. The firm has a market capitalization of $11.84 billion, a P/E ratio of 25.61, a PEG ratio of 1.70 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.59 by $0.19. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The company had revenue of $744.00 million during the quarter, compared to analysts’ expectations of $736.83 million. During the same period last year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Nordson Co. will post 10.34 EPS for the current fiscal year.

Nordson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.12 dividend on an annualized basis and a yield of 1.50%. Nordson’s payout ratio is presently 38.47%.

Insider Activity

In other Nordson news, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $262.27, for a total value of $59,010.75. Following the transaction, the executive vice president now owns 3,287 shares of the company’s stock, valued at approximately $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the transaction, the executive vice president now owns 8,659 shares in the company, valued at approximately $2,164,576.82. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,629 shares of company stock valued at $914,400. 0.86% of the stock is currently owned by insiders.

Institutional Trading of Nordson

A number of hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in Nordson by 13.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 173,373 shares of the industrial products company’s stock worth $45,533,000 after purchasing an additional 20,217 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Nordson by 23.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after buying an additional 61,430 shares in the last quarter. Holocene Advisors LP raised its stake in Nordson by 113.8% during the 3rd quarter. Holocene Advisors LP now owns 29,170 shares of the industrial products company’s stock worth $7,661,000 after buying an additional 15,524 shares during the period. Worldquant Millennium Advisors LLC raised its stake in Nordson by 47.5% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 15,677 shares of the industrial products company’s stock worth $4,117,000 after buying an additional 5,046 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Nordson by 4.7% during the third quarter. Principal Financial Group Inc. now owns 295,962 shares of the industrial products company’s stock worth $77,723,000 after acquiring an additional 13,184 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

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.