Nordson Co. (NASDAQ:NDSN) to Issue $0.78 Quarterly Dividend

Nordson Co. (NASDAQ:NDSN - Get Free Report) announced a quarterly dividend on Friday, June 6th, Wall Street Journal reports. Stockholders of record on Thursday, June 19th will be given a dividend of 0.78 per share by the industrial products company on Thursday, July 3rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, June 18th.

Nordson has raised its dividend payment by an average of 17.5% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Nordson has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nordson to earn $10.89 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 28.7%.

Nordson Price Performance

NASDAQ:NDSN traded up $1.27 on Friday, hitting $214.82. The company had a trading volume of 122,867 shares, compared to its average volume of 310,596. Nordson has a 52 week low of $165.03 and a 52 week high of $266.86. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.65 and a beta of 0.89. The firm has a 50 day moving average of $192.36 and a two-hundred day moving average of $210.61.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. Nordson's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS. On average, research analysts anticipate that Nordson will post 10.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. KeyCorp cut their target price on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, BNP Paribas cut shares of Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective on the stock. in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nordson has a consensus rating of "Moderate Buy" and an average price target of $253.17.

Nordson Company Profile

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.

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