Nordson Corporation (NDSN) Plans $0.30 Quarterly Dividend
Nordson Corporation (NASDAQ:NDSN) declared a quarterly dividend on Tuesday, December 5th, RTT News reports. Investors of record on Tuesday, December 19th will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, January 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, December 18th.
Nordson has raised its dividend by an average of 16.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Nordson has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nordson to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 20.6%.
Shares of Nordson (NDSN) traded down $1.30 on Wednesday, reaching $126.22. The company had a trading volume of 211,400 shares, compared to its average volume of 295,216. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.47. The firm has a market capitalization of $7,356.92, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. Nordson has a 52-week low of $103.76 and a 52-week high of $131.49.
A number of brokerages recently issued reports on NDSN. KeyCorp reaffirmed a “buy” rating and issued a $145.00 price target on shares of Nordson in a report on Sunday, November 19th. B. Riley reiterated a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. SunTrust Banks reiterated a “buy” rating and issued a $135.00 price objective on shares of Nordson in a research note on Friday, October 27th. Zacks Investment Research upgraded Nordson from a “sell” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Tuesday, October 24th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $138.00 price objective on shares of Nordson in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Nordson currently has a consensus rating of “Buy” and a consensus target price of $140.33.
In other news, VP James E. Devries sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.15% of the stock is owned by corporate insiders.
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Nordson 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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