Nordson Corp. (NDSN) Sets New 52-Week High at $91.54
Nordson Corp. (NASDAQ:NDSN) shares hit a new 52-week high during trading on Thursday . The company traded as high as $91.54 and last traded at $90.84, with a volume of 59,748 shares traded. The stock had previously closed at $90.79.
NDSN has been the topic of a number of recent research reports. Gabelli initiated coverage on Nordson Corp. in a research note on Friday, June 10th. They set a “buy” rating and a $100.00 price objective on the stock. Zacks Investment Research raised Nordson Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday. Sidoti lowered Nordson Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 31st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $92.00 target price (up from $83.00) on shares of Nordson Corp. in a research report on Thursday, May 26th. Finally, Barrington Research dropped their target price on Nordson Corp. from $102.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Nordson Corp. has an average rating of “Buy” and a consensus price target of $88.43.
The stock has a market capitalization of $5.17 billion and a PE ratio of 23.06. The firm’s 50 day moving average is $86.64 and its 200 day moving average is $78.16.
Nordson Corp. (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, May 23rd. The company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.27. The company earned $437.60 million during the quarter, compared to analyst estimates of $414.84 million. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. On average, equities research analysts anticipate that Nordson Corp. will post $4.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be 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 dividend yield of 1.19%.
In related news, VP Robert E. Veillette sold 6,500 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $87.72, for a total value of $570,180.00. Following the completion of the sale, the vice president now directly owns 40,637 shares in the company, valued at $3,564,677.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James E. Devries sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $88.02, for a total transaction of $440,100.00. Following the completion of the sale, the vice president now owns 37,393 shares of the company’s stock, valued at $3,291,331.86. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of the company. Nicholas Co. Inc. WI boosted its stake in shares of Nordson Corp. by 30.0% in the fourth quarter. Nicholas Co. Inc. WI now owns 130,105 shares of the company’s stock worth $8,346,000 after buying an additional 30,000 shares in the last quarter. Employees Retirement System of Texas boosted its stake in shares of Nordson Corp. by 54.7% in the fourth quarter. Employees Retirement System of Texas now owns 82,000 shares of the company’s stock worth $5,260,000 after buying an additional 29,000 shares in the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Nordson Corp. by 7.0% in the fourth quarter. I.G. Investment Management LTD. now owns 143,200 shares of the company’s stock worth $9,186,000 after buying an additional 9,400 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Nordson Corp. by 64.7% in the fourth quarter. Wells Fargo & Company MN now owns 222,957 shares of the company’s stock worth $14,302,000 after buying an additional 87,618 shares in the last quarter.
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