Nordson Co. (NASDAQ:NDSN) – Equities researchers at Oppenheimer lowered their FY2019 earnings per share (EPS) estimates for shares of Nordson in a research report issued on Thursday, February 21st. Oppenheimer analyst C. Glynn now expects that the industrial products company will post earnings of $6.40 per share for the year, down from their prior forecast of $6.50. Oppenheimer has a “Outperform” rating and a $140.00 price target on the stock.
Other analysts have also recently issued reports about the stock. Gabelli reaffirmed a “hold” rating on shares of Nordson in a research note on Tuesday, December 18th. Zacks Investment Research raised shares of Nordson from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of Nordson from a “sell” rating to a “hold” rating in a research note on Saturday, December 22nd. ValuEngineraised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Wednesday, December 26th. Finally, CIBC raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $143.57.
NDSN stock opened at $136.74 on Monday. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.77. Nordson has a one year low of $110.16 and a one year high of $146.84.
Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, February 20th. The industrial products company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.21). The firm had revenue of $497.91 million during the quarter, compared to analysts’ expectations of $497.99 million. Nordson had a return on equity of 23.01% and a net margin of 14.59%. The firm’s revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC boosted its position in Nordson by 3.5% during the 3rd quarter. Aperio Group LLC now owns 19,519 shares of the industrial products company’s stock worth $2,711,000 after purchasing an additional 652 shares during the period. Retirement Systems of Alabama boosted its position in Nordson by 2.6% during the 3rd quarter. Retirement Systems of Alabama now owns 120,641 shares of the industrial products company’s stock worth $16,757,000 after purchasing an additional 3,102 shares during the period. First Trust Advisors LP boosted its position in Nordson by 71.8% during the 3rd quarter. First Trust Advisors LP now owns 95,951 shares of the industrial products company’s stock worth $13,328,000 after purchasing an additional 40,105 shares during the period. Alps Advisors Inc. boosted its position in Nordson by 127.6% during the 3rd quarter. Alps Advisors Inc. now owns 7,453 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 4,179 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Nordson by 89.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 41,009 shares of the industrial products company’s stock worth $5,698,000 after purchasing an additional 19,362 shares during the period. 68.55% of the stock is owned by institutional investors.
In other news, insider Gregory A. Thaxton sold 4,949 shares of the business’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of $122.48, for a total transaction of $606,153.52. Following the completion of the sale, the insider now directly owns 52,767 shares of the company’s stock, valued at approximately $6,462,902.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Hilton sold 4,330 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $116.48, for a total transaction of $504,358.40. Following the sale, the chief executive officer now directly owns 217,821 shares of the company’s stock, valued at $25,371,790.08. The disclosure for this sale can be found here. Insiders have sold a total of 20,529 shares of company stock valued at $2,429,237 over the last three months. Corporate insiders own 1.97% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, February 25th. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Nordson’s dividend payout ratio is presently 23.57%.
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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.