Nordson (NASDAQ:NDSN) Hits New 1-Year High at $278.06

Nordson Co. (NASDAQ:NDSN)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $278.06 and last traded at $277.84, with a volume of 235392 shares changing hands. The stock had previously closed at $271.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NDSN shares. StockNews.com cut shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. KeyCorp reiterated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Wells Fargo & Company upped their price target on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, DA Davidson boosted their price objective on shares of Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and an average price target of $278.00.

Nordson Stock Performance

The company has a market capitalization of $15.89 billion, a PE ratio of 31.70, a P/E/G ratio of 2.00 and a beta of 1.00. The stock has a 50-day simple moving average of $266.06 and a 200 day simple moving average of $252.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $630.77 million. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 earnings per share. Equities analysts anticipate that Nordson Co. will post 10.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordson

Several institutional investors have recently added to or reduced their stakes in NDSN. Vanguard Group Inc. lifted its holdings in Nordson by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,069,686 shares of the industrial products company’s stock worth $1,603,368,000 after acquiring an additional 20,164 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Nordson by 4.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,235,928 shares of the industrial products company’s stock valued at $498,992,000 after acquiring an additional 88,095 shares during the last quarter. Morgan Stanley boosted its position in shares of Nordson by 9.2% during the 3rd quarter. Morgan Stanley now owns 1,391,467 shares of the industrial products company’s stock valued at $310,534,000 after purchasing an additional 117,337 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Nordson by 53.4% in the 3rd quarter. Lazard Asset Management LLC now owns 791,037 shares of the industrial products company’s stock worth $176,534,000 after purchasing an additional 275,240 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Nordson by 9.0% in the third quarter. Invesco Ltd. now owns 781,549 shares of the industrial products company’s stock valued at $174,418,000 after buying an additional 64,707 shares in the last quarter. 72.11% of the stock is currently 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.