Nordson Co. (NASDAQ:NDSN) announced a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Stockholders of record on Tuesday, February 25th will be given a dividend of 0.38 per share by the industrial products company on Tuesday, March 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, February 24th.
Nordson has increased its dividend by an average of 10.1% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Nordson has a payout ratio of 24.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nordson to earn $7.22 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 21.1%.
NASDAQ:NDSN opened at $177.62 on Friday. The firm’s 50-day moving average price is $169.02 and its 200-day moving average price is $154.46. The company has a market capitalization of $10.14 billion, a PE ratio of 30.68, a P/E/G ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.12 and a quick ratio of 1.52. Nordson has a 1-year low of $124.90 and a 1-year high of $180.28.
Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, December 11th. The industrial products company reported $1.79 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.79. The firm had revenue of $585.45 million for the quarter, compared to the consensus estimate of $598.16 million. Nordson had a net margin of 15.36% and a return on equity of 22.74%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. Equities analysts anticipate that Nordson will post 6.31 EPS for the current fiscal year.
A number of brokerages recently issued reports on NDSN. BidaskClub cut shares of Nordson from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating and set a $173.00 price target on the stock. in a research note on Thursday, December 5th. Robert W. Baird reiterated a “buy” rating and issued a $188.00 price target on shares of Nordson in a research note on Thursday, January 30th. Oppenheimer cut shares of Nordson from an “outperform” rating to a “market perform” rating and set a $155.00 price target on the stock. in a research note on Friday, December 13th. Finally, Wells Fargo & Co upped their price target on shares of Nordson from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $168.50.
In other news, CFO Gregory A. Thaxton sold 3,041 shares of the stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $163.07, for a total value of $495,895.87. Following the transaction, the chief financial officer now owns 53,958 shares in the company, valued at approximately $8,798,931.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Stockunas sold 446 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $162.80, for a total transaction of $72,608.80. Following the completion of the transaction, the executive vice president now owns 15,287 shares in the company, valued at approximately $2,488,723.60. The disclosure for this sale can be found here. Insiders sold a total of 58,028 shares of company stock worth $9,623,417 in the last quarter. Company insiders own 2.01% of the company’s stock.
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.
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