Nordson Co. (NASDAQ:NDSN) – Equities researchers at Seaport Global Securities lowered their Q2 2020 earnings estimates for shares of Nordson in a research note issued on Thursday, February 20th. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will earn $1.39 per share for the quarter, down from their prior forecast of $1.62. Seaport Global Securities also issued estimates for Nordson’s Q3 2020 earnings at $1.84 EPS, Q4 2020 earnings at $2.08 EPS and FY2020 earnings at $6.20 EPS.
Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.16). Nordson had a net margin of 15.54% and a return on equity of 21.78%. The business had revenue of $494.92 million for the quarter, compared to analysts’ expectations of $503.96 million. During the same quarter last year, the business posted $0.92 earnings per share. The business’s revenue was down .6% compared to the same quarter last year.
Other equities analysts also recently issued reports about the stock. Oppenheimer started coverage on shares of Nordson in a report on Wednesday, February 19th. They set a “hold” rating for the company. DA Davidson upgraded shares of Nordson from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Monday, January 27th. Robert W. Baird reaffirmed a “buy” rating and set a $188.00 price target on shares of Nordson in a research note on Thursday, January 30th. Wells Fargo & Co raised their price target on shares of Nordson from $150.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $173.00 price target on the stock. in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $172.67.
NASDAQ:NDSN opened at $170.20 on Monday. The company has a current ratio of 2.71, a quick ratio of 1.52 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $170.85 and a two-hundred day moving average price of $155.85. Nordson has a twelve month low of $124.90 and a twelve month high of $180.28. The company has a market capitalization of $9.94 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. Nordson’s dividend payout ratio is currently 25.89%.
In other Nordson news, Director Ginger M. Jones purchased 1,000 shares of Nordson stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $165.95 per share, with a total value of $165,950.00. Following the completion of the transaction, the director now directly owns 1,782 shares in the company, valued at approximately $295,722.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shelly Peet sold 2,375 shares of Nordson stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $166.56, for a total transaction of $395,580.00. Following the transaction, the executive vice president now directly owns 29,330 shares in the company, valued at $4,885,204.80. The disclosure for this sale can be found here. Insiders have sold a total of 42,077 shares of company stock worth $7,005,698 over the last ninety days. 2.01% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Procyon Private Wealth Partners LLC purchased a new stake in shares of Nordson during the fourth quarter valued at approximately $253,000. Cornerstone Wealth Management LLC raised its stake in shares of Nordson by 8.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 7,652 shares of the industrial products company’s stock valued at $1,246,000 after purchasing an additional 609 shares during the period. Geode Capital Management LLC raised its stake in shares of Nordson by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 651,907 shares of the industrial products company’s stock valued at $106,155,000 after purchasing an additional 20,372 shares during the period. Mason Street Advisors LLC raised its stake in shares of Nordson by 1.4% during the fourth quarter. Mason Street Advisors LLC now owns 27,215 shares of the industrial products company’s stock valued at $4,432,000 after purchasing an additional 382 shares during the period. Finally, Brinker Capital Inc. raised its stake in shares of Nordson by 2.6% during the fourth quarter. Brinker Capital Inc. now owns 20,753 shares of the industrial products company’s stock valued at $3,381,000 after purchasing an additional 519 shares during the period. 72.23% 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. 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.