Nordson (NASDAQ:NDSN) Sets New 52-Week High at $278.06

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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 shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. DA Davidson upped their target price on Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.00.

Nordson Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. The firm has a fifty day moving average of $266.06 and a 200 day moving average of $252.78. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 2.00 and a beta of 1.00.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $630.77 million. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 EPS. As a group, sell-side analysts forecast that Nordson Co. will post 10.2 EPS for the current year.

Institutional Trading of Nordson

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC increased its stake in Nordson by 0.4% during the fourth quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock worth $2,820,000 after acquiring an additional 40 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Nordson by 0.3% in the 1st 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 grew its position in shares of Nordson by 2.3% in the 4th quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 45 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Nordson by 0.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 47 shares during the period. Finally, Ieq Capital LLC lifted its holdings in Nordson by 3.6% in the third quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 48 shares during the last quarter. 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.