Nordson Corporation (NDSN) Issues Earnings Results, Beats Expectations By $0.12 EPS
Nordson Corporation (NASDAQ:NDSN) announced its quarterly earnings data on Monday. The industrial products company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.12, Bloomberg Earnings reports. The firm had revenue of $589.40 million during the quarter, compared to the consensus estimate of $574.20 million. Nordson Corporation had a net margin of 14.43% and a return on equity of 33.39%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 earnings per share. Nordson Corporation updated its Q4 guidance to $1.18-1.32 EPS.
Shares of Nordson Corporation (NASDAQ NDSN) traded up 0.80% on Monday, hitting $125.12. The company had a trading volume of 472,806 shares. The stock has a market cap of $7.21 billion, a PE ratio of 26.37 and a beta of 1.35. The company has a 50-day moving average of $124.97 and a 200 day moving average of $122.65. Nordson Corporation has a 12 month low of $94.56 and a 12 month high of $131.49.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from Nordson Corporation’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, August 18th. Nordson Corporation’s dividend payout ratio (DPR) is presently 25.32%.
A number of brokerages recently commented on NDSN. BidaskClub downgraded shares of Nordson Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded shares of Nordson Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Wells Fargo & Company reiterated a “market perform” rating and set a $130.00 price target (up from $122.00) on shares of Nordson Corporation in a research report on Thursday, May 25th. Wellington Shields upgraded shares of Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Friday, June 2nd. Finally, FBR & Co reiterated an “outperform” rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $115.50.
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Several institutional investors have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC increased its position in shares of Nordson Corporation by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 54,060 shares of the industrial products company’s stock worth $6,641,000 after buying an additional 2,006 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Nordson Corporation during the first quarter worth approximately $392,000. Meritage Portfolio Management acquired a new position in shares of Nordson Corporation during the first quarter worth approximately $6,011,000. Acadian Asset Management LLC acquired a new position in shares of Nordson Corporation during the first quarter worth approximately $273,000. Finally, ProShare Advisors LLC increased its position in shares of Nordson Corporation by 21.7% in the first quarter. ProShare Advisors LLC now owns 84,171 shares of the industrial products company’s stock worth $10,340,000 after buying an additional 15,030 shares in the last quarter. Institutional investors own 66.43% of the company’s stock.
Nordson Corporation Company Profile
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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