Nordson Co. (NASDAQ:NDSN) – Analysts at DA Davidson reduced their FY2018 earnings per share estimates for Nordson in a report released on Thursday, November 29th. DA Davidson analyst M. Summerville now expects that the industrial products company will post earnings per share of $5.93 for the year, down from their previous estimate of $6.00. DA Davidson has a “Neutral” rating and a $125.00 price objective on the stock. DA Davidson also issued estimates for Nordson’s Q4 2018 earnings at $1.43 EPS, Q1 2019 earnings at $1.05 EPS, Q2 2019 earnings at $1.57 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.71 EPS, FY2019 earnings at $6.20 EPS, Q1 2020 earnings at $1.27 EPS, Q2 2020 earnings at $1.74 EPS, Q3 2020 earnings at $2.06 EPS, Q4 2020 earnings at $1.89 EPS and FY2020 earnings at $6.95 EPS.
NDSN has been the topic of several other research reports. ValuEngine downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research cut Nordson from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Finally, BidaskClub raised Nordson from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $151.57.
NASDAQ NDSN opened at $118.00 on Friday. The company has a market capitalization of $7.05 billion, a PE ratio of 21.97, a PEG ratio of 1.40 and a beta of 1.33. Nordson has a 1-year low of $111.17 and a 1-year high of $151.84. The company has a current ratio of 3.16, a quick ratio of 2.36 and a debt-to-equity ratio of 1.07.
Nordson announced that its board has initiated a stock repurchase program on Tuesday, September 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Mary G. Puma sold 2,983 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total value of $433,847.52. Following the completion of the sale, the director now owns 18,799 shares of the company’s stock, valued at $2,734,126.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.01% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of NDSN. Ancora Advisors LLC acquired a new stake in Nordson during the third quarter worth $115,000. Itau Unibanco Holding S.A. acquired a new stake in Nordson during the second quarter worth $132,000. Sapphire Star Partners LP acquired a new stake in Nordson during the third quarter worth $201,000. Checchi Capital Advisers LLC acquired a new stake in Nordson during the third quarter worth $202,000. Finally, Keel Point LLC acquired a new stake in Nordson during the third quarter worth $203,000. 68.03% of the stock is owned by hedge funds and other institutional investors.
Nordson Company Profile
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.
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