Nordson Co. (NASDAQ:NDSN - Get Free Report)'s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $195.74, but opened at $209.86. Nordson shares last traded at $215.88, with a volume of 58,887 shares traded.
The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 earnings per share.
Nordson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $3.12 annualized dividend and a yield of 1.47%. Nordson's dividend payout ratio (DPR) is presently 40.10%.
Analyst Ratings Changes
Several research firms have issued reports on NDSN. Robert W. Baird lifted their target price on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a report on Friday. BNP Paribas downgraded Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 target price for the company. in a report on Monday, February 24th. Oppenheimer raised Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a report on Friday. Finally, KeyCorp decreased their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus price target of $253.17.
Get Our Latest Analysis on Nordson
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Nordson in the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Nordson by 86.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after buying an additional 89 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock valued at $41,000 after buying an additional 54 shares in the last quarter. National Pension Service increased its position in shares of Nordson by 74.8% in the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock valued at $41,000 after buying an additional 86 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Nordson by 73.7% in the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after buying an additional 115 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.
Nordson Price Performance
The firm has a market capitalization of $12.09 billion, a PE ratio of 27.03, a PEG ratio of 1.65 and a beta of 0.90. The stock has a 50-day moving average price of $191.64 and a 200 day moving average price of $211.80. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.72.
About Nordson
(
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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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