Nordson Corporation (NDSN) Announces Dividend Increase – $0.30 Per Share
Nordson Corporation (NASDAQ:NDSN) announced a quarterly dividend on Friday, August 11th, RTT News reports. Stockholders of record on Tuesday, August 22nd will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Nordson Corporation’s previous quarterly dividend of $0.27.
Nordson Corporation has increased its dividend payment by an average of 16.3% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Nordson Corporation has a payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nordson Corporation to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 18.3%.
Shares of Nordson Corporation (NASDAQ:NDSN) traded up 1.36% during mid-day trading on Friday, hitting $128.45. 46,074 shares of the stock were exchanged. The stock has a market cap of $7.40 billion, a PE ratio of 27.08 and a beta of 1.35. The company has a 50-day moving average of $123.75 and a 200 day moving average of $121.88. Nordson Corporation has a one year low of $89.87 and a one year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last announced its quarterly earnings data on Monday, May 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. The business had revenue of $496.14 million for the quarter, compared to the consensus estimate of $470.12 million. Nordson Corporation had a net margin of 14.43% and a return on equity of 33.39%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 earnings per share. On average, equities analysts predict that Nordson Corporation will post $5.40 earnings per share for the current year.
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Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Nordson Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Zacks Investment Research raised shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Wednesday, April 26th. FBR & Co reissued an “outperform” rating on shares of Nordson Corporation in a research note on Tuesday, July 11th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $130.00 price target (up previously from $122.00) on shares of Nordson Corporation in a research report on Thursday, May 25th. Finally, Wellington Shields raised shares of Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Friday, June 2nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $115.50.
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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