Nordson (NASDAQ:NDSN) Given New $295.00 Price Target at DA Davidson

Nordson (NASDAQ:NDSN) had its price target trimmed by DA Davidson from $315.00 to $295.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Nordson’s Q3 2024 earnings at $2.35 EPS, FY2024 earnings at $9.55 EPS and FY2025 earnings at $10.60 EPS.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Nordson from $290.00 to $315.00 and gave the company an overweight rating in a research note on Friday, February 23rd. KeyCorp restated a sector weight rating on shares of Nordson in a research report on Monday, February 26th. Robert W. Baird decreased their target price on Nordson from $303.00 to $272.00 and set an outperform rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded Nordson from a hold rating to a buy rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nordson presently has a consensus rating of Moderate Buy and an average price target of $277.83.

Nordson Price Performance

Shares of NDSN stock opened at $237.94 on Wednesday. The firm’s 50 day moving average price is $265.54 and its two-hundred day moving average price is $256.77. The stock has a market cap of $13.61 billion, a PE ratio of 28.36, a PEG ratio of 1.92 and a beta of 1.00. Nordson has a 52-week low of $208.91 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.37 and a current ratio of 2.21.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The business had revenue of $650.64 million during the quarter, compared to the consensus estimate of $661.06 million. During the same quarter in the prior year, the company posted $2.26 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. As a group, analysts forecast that Nordson will post 9.51 EPS for the current year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, May 20th. Nordson’s dividend payout ratio is 32.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC lifted its stake in Nordson by 0.4% in the 4th quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock valued at $2,820,000 after acquiring an additional 40 shares in the last quarter. Retirement Systems of Alabama grew its position in Nordson by 0.3% in the first quarter. Retirement Systems of Alabama now owns 11,976 shares of the industrial products company’s stock valued at $3,288,000 after purchasing an additional 40 shares in the last quarter. Independent Advisor Alliance increased its stake in Nordson by 2.3% in the 4th quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock valued at $524,000 after buying an additional 45 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Nordson by 0.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after buying an additional 47 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Nordson by 3.6% during the 3rd quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock worth $308,000 after buying an additional 48 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

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.