Nordson Co. (NASDAQ:NDSN) – Research analysts at Seaport Global Securities lowered their FY2019 EPS estimates for shares of Nordson in a report released on Thursday, August 22nd. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $5.86 for the year, down from their prior forecast of $6.00. Seaport Global Securities also issued estimates for Nordson’s Q3 2020 earnings at $1.73 EPS and FY2020 earnings at $6.35 EPS.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.18). Nordson had a net margin of 14.74% and a return on equity of 22.36%. The firm had revenue of $559.75 million during the quarter, compared to analysts’ expectations of $587.74 million. During the same period last year, the company earned $1.60 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis.
NDSN has been the subject of several other research reports. DA Davidson dropped their price target on shares of Nordson from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. ValuEngine cut shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. BidaskClub raised shares of Nordson from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $148.00 price objective for the company. in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Nordson presently has a consensus rating of “Hold” and a consensus price target of $139.60.
Nordson stock opened at $130.84 on Friday. The firm has a 50 day simple moving average of $137.62 and a 200-day simple moving average of $136.65. Nordson has a 1-year low of $110.16 and a 1-year high of $149.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.16 and a quick ratio of 1.53. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22.
Large investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new stake in Nordson during the 1st quarter worth approximately $6,626,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Nordson during the 1st quarter worth approximately $459,000. California State Teachers Retirement System lifted its holdings in Nordson by 1.3% during the 1st quarter. California State Teachers Retirement System now owns 92,587 shares of the industrial products company’s stock worth $12,270,000 after buying an additional 1,205 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Nordson by 5.5% during the 1st quarter. Wells Fargo & Company MN now owns 383,468 shares of the industrial products company’s stock worth $50,817,000 after buying an additional 19,971 shares in the last quarter. Finally, Navellier & Associates Inc acquired a new stake in Nordson during the 2nd quarter worth approximately $203,000. 68.82% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Michael F. Hilton sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $128.06, for a total transaction of $768,360.00. Following the completion of the transaction, the chief executive officer now owns 224,455 shares of the company’s stock, valued at approximately $28,743,707.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey A. Pembroke sold 3,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $140.19, for a total transaction of $448,608.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,106 shares of company stock valued at $1,887,961 in the last ninety days. 1.97% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Nordson’s previous quarterly dividend of $0.35. Nordson’s dividend payout ratio (DPR) 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.