Short Interest in Nordson Co. (NASDAQ:NDSN) Increases By 10.2%

Nordson Co. (NASDAQ:NDSNGet Rating) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 707,500 shares, an increase of 10.2% from the August 15th total of 642,200 shares. Based on an average daily trading volume, of 217,800 shares, the short-interest ratio is currently 3.2 days. Currently, 1.4% of the company’s stock are short sold.

Nordson Price Performance

Shares of NDSN stock opened at $218.98 on Monday. Nordson has a 1-year low of $194.89 and a 1-year high of $272.28. The stock’s 50-day moving average is $227.63 and its 200 day moving average is $219.61. The company has a market cap of $12.53 billion, a P/E ratio of 26.51, a PEG ratio of 1.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.87.

Nordson (NASDAQ:NDSNGet Rating) last issued its quarterly earnings results on Monday, August 22nd. The industrial products company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.05. The business had revenue of $662.13 million during the quarter, compared to the consensus estimate of $650.90 million. Nordson had a return on equity of 23.66% and a net margin of 19.25%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $2.42 earnings per share. Research analysts predict that Nordson will post 9.33 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, August 22nd. This is an increase from Nordson’s previous quarterly dividend of $0.51. Nordson’s dividend payout ratio (DPR) is currently 31.48%.

Institutional Investors Weigh In On Nordson

Several institutional investors have recently added to or reduced their stakes in the business. Hartford Investment Management Co. acquired a new stake in shares of Nordson during the first quarter worth about $1,171,000. IFM Investors Pty Ltd lifted its holdings in shares of Nordson by 17.2% during the first quarter. IFM Investors Pty Ltd now owns 8,195 shares of the industrial products company’s stock worth $1,861,000 after purchasing an additional 1,202 shares during the period. Bank of Montreal Can lifted its holdings in shares of Nordson by 8.1% during the first quarter. Bank of Montreal Can now owns 30,540 shares of the industrial products company’s stock worth $7,108,000 after purchasing an additional 2,289 shares during the period. Addison Advisors LLC acquired a new stake in shares of Nordson during the first quarter worth about $66,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in Nordson during the fourth quarter valued at approximately $1,118,000. Institutional investors and hedge funds own 72.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com lowered Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Robert W. Baird raised their price objective on Nordson from $232.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Morgan Stanley dropped their price objective on Nordson from $270.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 9th. Finally, DA Davidson raised their price objective on Nordson from $265.00 to $270.00 in a research report on Tuesday, August 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $270.20.

Nordson Company Profile

(Get Rating)

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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).

Featured Stories

Receive News & Ratings for Nordson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordson and related companies with MarketBeat.com's FREE daily email newsletter.