Investors interested in Manufacturing - General Industrial stocks are likely familiar with Colfax (CFX) and Nordson (NDSN). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Currently, Colfax has a Zacks Rank of #2 (Buy), while Nordson has a Zacks Rank of #4 (Sell). Investors should feel comfortable knowing that CFX likely has seen a stronger improvement to its earnings outlook than NDSN has recently. However, value investors will care about much more than just this.Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.CFX currently has a forward P/E ratio of 9.32, while NDSN has a forward P/E of 19.48. We also note that CFX has a PEG ratio of 0.64. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NDSN currently has a PEG ratio of 1.49.Another notable valuation metric for CFX is its P/B ratio of 0.81. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, NDSN has a P/B of 5.06.Based on these metrics and many more, CFX holds a Value grade of A, while NDSN has a Value grade of F.CFX has seen stronger estimate revision activity and sports more attractive valuation metrics than NDSN, so it seems like value investors will conclude that CFX is the superior option right now.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Colfax Corporation (CFX): Get Free Report Nordson Corporation (NDSN): Free Stock Analysis Report To read this article on Zacks.com click here.