Nordson Co. Announces Quarterly Dividend of $0.68 (NASDAQ:NDSN)

Nordson Co. (NASDAQ:NDSN - Get Free Report) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Tuesday, May 21st will be given a dividend of 0.68 per share by the industrial products company on Tuesday, June 4th. This represents a $2.72 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, May 20th.

Nordson has raised its dividend payment by an average of 20.0% annually over the last three years and has increased its dividend every year for the last 61 years. Nordson has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nordson to earn $11.16 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 24.4%.

Nordson Stock Up 0.4 %

Shares of NASDAQ:NDSN traded up $1.05 during midday trading on Friday, reaching $278.89. The company had a trading volume of 364,643 shares, compared to its average volume of 182,822. The stock has a market capitalization of $15.95 billion, a P/E ratio of 32.62, a PEG ratio of 2.04 and a beta of 1.00. The stock's fifty day moving average price is $266.56 and its 200-day moving average price is $253.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.37. Nordson has a one year low of $208.90 and a one year high of $279.38.

Nordson (NASDAQ:NDSN - Get Free Report) last released its earnings results on Wednesday, February 21st. The industrial products company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. Nordson had a net margin of 18.59% and a return on equity of 20.59%. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $630.77 million. During the same quarter in the previous year, the firm earned $1.95 EPS. The company's revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Nordson will post 10.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Nordson from $290.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. DA Davidson raised their price target on shares of Nordson from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. KeyCorp reaffirmed a "sector weight" rating on shares of Nordson in a research report on Monday, February 26th. Finally, StockNews.com cut shares of Nordson from a "buy" rating to a "hold" rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $278.00.

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.