Nordson Corp. (NDSN) Shares Gap Up to $96.28
Shares of Nordson Corp. (NASDAQ:NDSN) gapped up prior to trading on Monday . The stock had previously closed at $96.05, but opened at $96.28. Nordson Corp. shares last traded at $97.60, with a volume of 53,760 shares.
NDSN has been the subject of several research analyst reports. Barrington Research raised their price objective on shares of Nordson Corp. from $102.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, August 23rd. Royal Bank Of Canada lifted their target price on shares of Nordson Corp. from $74.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, May 25th. Zacks Investment Research upgraded shares of Nordson Corp. from a “hold” rating to a “strong-buy” rating and set a $102.00 target price for the company in a report on Friday, May 27th. Robert W. Baird lowered their target price on shares of Nordson Corp. from $106.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, August 24th. Finally, Wunderlich lifted their target price on shares of Nordson Corp. from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Nordson Corp. presently has a consensus rating of “Buy” and a consensus price target of $103.90.
The firm’s 50 day moving average is $95.03 and its 200 day moving average is $84.51. The stock has a market capitalization of $5.61 billion, a P/E ratio of 23.14 and a beta of 1.34.
Nordson Corp. (NASDAQ:NDSN) last issued its earnings results on Monday, August 22nd. The company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.14. The business had revenue of $489.89 million for the quarter. Nordson Corp. had a net margin of 14.07% and a return on equity of 34.16%. Nordson Corp.’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, analysts forecast that Nordson Corp. will post $4.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a $0.27 dividend. This is an increase from Nordson Corp.’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, August 19th. Nordson Corp.’s dividend payout ratio is currently 25.41%.
In other news, VP Douglas C. Bloomfield sold 3,532 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $99.00, for a total value of $349,668.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory P. Merk sold 16,600 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $100.30, for a total transaction of $1,664,980.00. Following the completion of the sale, the insider now directly owns 45,812 shares of the company’s stock, valued at approximately $4,594,943.60. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in NDSN. Parametrica Management Ltd acquired a new stake in shares of Nordson Corp. during the first quarter valued at $234,000. Prudential Financial Inc. boosted its stake in shares of Nordson Corp. by 21.3% in the first quarter. Prudential Financial Inc. now owns 55,921 shares of the company’s stock valued at $4,252,000 after buying an additional 9,830 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Nordson Corp. by 3,576.1% in the second quarter. BNP Paribas Arbitrage SA now owns 21,248 shares of the company’s stock valued at $1,777,000 after buying an additional 20,670 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Nordson Corp. by 18.0% in the second quarter. GW&K Investment Management LLC now owns 115,782 shares of the company’s stock valued at $9,681,000 after buying an additional 17,656 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Nordson Corp. during the second quarter valued at $891,000. 64.61% of the stock is owned by hedge funds and other institutional investors.
About Nordson Corp.
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