Nordson (NASDAQ:NDSN) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Nordson (NASDAQ:NDSN – Get Rating) announced its quarterly earnings data on Tuesday. The industrial products company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14, MarketWatch Earnings reports. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The business had revenue of $650.17 million during the quarter, compared to the consensus estimate of $638.87 million. During the same period in the prior year, the company earned $2.43 EPS. Nordson’s revenue for the quarter was up 2.3% on a year-over-year basis.

Nordson Trading Down 2.6 %

Shares of NDSN stock opened at $213.80 on Thursday. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.86 and a beta of 0.91. The stock has a 50-day moving average of $215.16 and a 200-day moving average of $227.42. The company has a current ratio of 1.17, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. Nordson has a 1-year low of $194.89 and a 1-year high of $251.26.

Nordson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $0.65 dividend. The ex-dividend date is Monday, May 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.22%. Nordson’s payout ratio is presently 29.18%.

Institutional Investors Weigh In On Nordson

Several institutional investors and hedge funds have recently made changes to their positions in NDSN. Salem Investment Counselors Inc. acquired a new stake in shares of Nordson in the second quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Nordson by 115.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 340 shares of the industrial products company’s stock valued at $81,000 after buying an additional 182 shares during the period. Covestor Ltd increased its stake in shares of Nordson by 167.1% in the first quarter. Covestor Ltd now owns 414 shares of the industrial products company’s stock valued at $94,000 after buying an additional 259 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Nordson in the second quarter valued at about $158,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nordson in the third quarter valued at about $203,000. Institutional investors and hedge funds own 70.40% of the company’s stock.

Analyst Ratings Changes

NDSN has been the subject of several recent analyst reports. StockNews.com initiated coverage on Nordson in a research report on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital lowered their target price on Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. Finally, Robert W. Baird upped their target price on Nordson from $241.00 to $251.00 in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $252.20.

Nordson Company Profile

(Get Rating)

Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.