Nordson (NASDAQ:NDSN) Downgraded to Hold Rating by Baird R W

Nordson (NASDAQ:NDSN - Get Free Report) was downgraded by research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday,Zacks.com reports.

NDSN has been the topic of a number of other research reports. Robert W. Baird reiterated a "neutral" rating and set a $237.00 price target (down previously from $294.00) on shares of Nordson in a report on Friday. DA Davidson cut their target price on Nordson from $295.00 to $285.00 and set a "buy" rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $279.00.

Nordson Price Performance

Shares of Nordson stock traded down $2.65 during trading on Friday, reaching $226.46. 720,284 shares of the company's stock were exchanged, compared to its average volume of 239,897. The firm's 50-day moving average price is $253.99 and its 200 day moving average price is $245.73. The company has a market cap of $12.95 billion, a P/E ratio of 27.92, a PEG ratio of 1.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. Nordson has a 1-year low of $222.18 and a 1-year high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 20.12%. The business had revenue of $744.00 million during the quarter, compared to analysts' expectations of $736.83 million. During the same period in the prior year, the company earned $2.46 EPS. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Nordson will post 10.35 earnings per share for the current year.

Insider Buying and Selling at Nordson

In related news, EVP Jennifer L. Mcdonough sold 225 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were 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 trade represents a 6.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Lovass sold 317 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total value of $82,657.75. Following the sale, the executive vice president now directly owns 6,666 shares of the company's stock, valued at $1,738,159.50. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,629 shares of company stock valued at $914,400. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Nordson

Several hedge funds have recently modified their holdings of NDSN. Ashton Thomas Private Wealth LLC purchased a new position in shares of Nordson in the 2nd quarter worth about $27,000. Tortoise Investment Management LLC boosted its stake in Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 58 shares during the last quarter. Blue Trust Inc. increased 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 worth $42,000 after purchasing an additional 91 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Nordson in the 2nd quarter worth approximately $46,000. Finally, UMB Bank n.a. lifted its stake in Nordson by 2,387.5% in the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 72.11% of the company's stock.

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.