Nordson Co. (NASDAQ:NDSN) – Equities research analysts at SunTrust Banks lifted their Q2 2018 earnings estimates for shares of Nordson in a report released on Sunday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings per share of $1.47 for the quarter, up from their prior estimate of $1.39. SunTrust Banks currently has a “Buy” rating and a $166.00 target price on the stock. SunTrust Banks also issued estimates for Nordson’s Q3 2018 earnings at $1.95 EPS, Q4 2018 earnings at $1.70 EPS, FY2018 earnings at $6.47 EPS, Q1 2019 earnings at $1.21 EPS, Q2 2019 earnings at $1.78 EPS, Q3 2019 earnings at $2.23 EPS, Q4 2019 earnings at $1.97 EPS and FY2019 earnings at $7.20 EPS.
Several other analysts have also issued reports on the stock. Wells Fargo & Co reissued a “market perform” rating and issued a $140.00 price target (down previously from $155.00) on shares of Nordson in a research report on Monday. They noted that the move was a valuation call. Robert W. Baird reissued a “neutral” rating on shares of Nordson in a research report on Friday, February 23rd. B. Riley set a $175.00 price target on shares of Nordson and gave the company a “buy” rating in a research report on Friday, February 23rd. DA Davidson began coverage on shares of Nordson in a research report on Wednesday, February 21st. They issued a “buy” rating and a $160.00 price target on the stock. Finally, BidaskClub lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $152.40.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.01. Nordson had a net margin of 15.85% and a return on equity of 30.41%. The company had revenue of $550.42 million for the quarter, compared to analyst estimates of $538.21 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 35.1% compared to the same quarter last year.
A number of large investors have recently modified their holdings of NDSN. TimesSquare Capital Management LLC grew its stake in Nordson by 85.3% during the third quarter. TimesSquare Capital Management LLC now owns 1,151,500 shares of the industrial products company’s stock valued at $136,453,000 after acquiring an additional 530,100 shares in the last quarter. Wells Fargo & Company MN grew its stake in Nordson by 107.7% during the fourth quarter. Wells Fargo & Company MN now owns 970,315 shares of the industrial products company’s stock valued at $142,053,000 after acquiring an additional 503,093 shares in the last quarter. Schroder Investment Management Group grew its stake in Nordson by 75.1% during the fourth quarter. Schroder Investment Management Group now owns 484,365 shares of the industrial products company’s stock valued at $70,910,000 after acquiring an additional 207,792 shares in the last quarter. Brown Advisory Inc. grew its stake in Nordson by 3,862.1% during the third quarter. Brown Advisory Inc. now owns 189,944 shares of the industrial products company’s stock valued at $22,509,000 after acquiring an additional 185,150 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Nordson during the fourth quarter valued at approximately $17,035,000. 66.96% of the stock is owned by institutional investors.
In related news, CEO Michael F. Hilton sold 12,142 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $149.98, for a total transaction of $1,821,057.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert E. Veillette sold 1,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $142.19, for a total transaction of $226,650.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,597 shares of company stock valued at $12,623,580. 2.01% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 0.90%. Nordson’s dividend payout ratio is currently 20.00%.
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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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