Nordson (NASDAQ:NDSN) Stock Rating Lowered by Baird R W

Baird R W downgraded shares of Nordson (NASDAQ:NDSN) from a strong-buy rating to a hold rating in a research report report published on Friday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Robert W. Baird reiterated a “neutral” rating and set a $237.00 price objective (down previously from $294.00) on shares of Nordson in a research note on Friday. DA Davidson decreased their price target on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $279.00.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $226.46 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $253.99 and its two-hundred day moving average price is $245.93. Nordson has a 52-week low of $222.18 and a 52-week high of $279.38. The stock has a market capitalization of $12.95 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.85 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.19. Nordson had a return on equity of 20.12% and a net margin of 17.37%. The company had revenue of $744.00 million for the quarter, compared to analysts’ expectations of $736.83 million. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Nordson will post 10.35 earnings per share for the current year.

Insiders Place Their Bets

In other Nordson news, EVP Stephen Lovass sold 317 shares of Nordson stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total transaction of $82,657.75. Following the transaction, the executive vice president now directly owns 6,666 shares in the company, valued at approximately $1,738,159.50. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total transaction 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. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,629 shares of company stock worth $914,400. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Nordson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in Nordson during the 2nd quarter worth approximately $27,000. Tortoise Investment Management LLC boosted its stake in shares of Nordson by 70.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after buying an additional 58 shares during the period. Blue Trust Inc. boosted its stake in shares of Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after buying an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Nordson during the 2nd quarter valued at $46,000. Finally, UMB Bank n.a. boosted its stake in shares of Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after buying an additional 191 shares during the period. 72.11% of the stock is currently owned by hedge funds and other 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.