Nordson Co. (NASDAQ:NDSN – Get Rating) – Equities research analysts at KeyCorp decreased their Q3 2023 earnings per share (EPS) estimates for Nordson in a note issued to investors on Wednesday, June 21st. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings per share of $2.34 for the quarter, down from their previous forecast of $2.38. The consensus estimate for Nordson’s current full-year earnings is $9.06 per share. KeyCorp also issued estimates for Nordson’s Q4 2023 earnings at $2.61 EPS.
Nordson (NASDAQ:NDSN – Get Rating) last announced its quarterly earnings data on Tuesday, May 23rd. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The firm had revenue of $650.17 million for the quarter, compared to analysts’ expectations of $638.87 million. During the same period last year, the business posted $2.43 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis.
Nordson Stock Performance
Shares of NDSN opened at $235.74 on Friday. The business’s fifty day moving average price is $222.44 and its 200 day moving average price is $226.92. Nordson has a 12-month low of $195.28 and a 12-month high of $251.26. The stock has a market capitalization of $13.43 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.17 and a quick ratio of 0.72.
Nordson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, May 22nd. Nordson’s dividend payout ratio (DPR) is 29.18%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of NDSN. Morgan Stanley increased its holdings in shares of Nordson by 435.1% during the fourth quarter. Morgan Stanley now owns 1,275,693 shares of the industrial products company’s stock valued at $303,258,000 after purchasing an additional 1,037,295 shares during the period. Vanguard Group Inc. increased its holdings in shares of Nordson by 16.5% during the first quarter. Vanguard Group Inc. now owns 5,997,575 shares of the industrial products company’s stock valued at $1,361,928,000 after purchasing an additional 850,479 shares during the period. Norges Bank acquired a new position in shares of Nordson during the fourth quarter valued at $176,078,000. ProShare Advisors LLC increased its holdings in shares of Nordson by 9,439.6% during the first quarter. ProShare Advisors LLC now owns 710,034 shares of the industrial products company’s stock valued at $157,812,000 after purchasing an additional 702,591 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Nordson by 258.7% during the second quarter. Goldman Sachs Group Inc. now owns 878,782 shares of the industrial products company’s stock valued at $177,900,000 after purchasing an additional 633,821 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.
About Nordson
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS).
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