Nordson Co. (NASDAQ:NDSN – Get Rating) was the recipient of a large increase in short interest in 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. Currently, 1.4% of the company's shares are short sold. Based on an average trading volume of 217,800 shares, the short-interest ratio is currently 3.2 days.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Hartford Investment Management Co. purchased a new position in shares of Nordson in the 1st quarter valued at about $1,171,000. IFM Investors Pty Ltd boosted its position in shares of Nordson by 17.2% in the 1st quarter. IFM Investors Pty Ltd now owns 8,195 shares of the industrial products company's stock valued at $1,861,000 after purchasing an additional 1,202 shares during the period. Bank of Montreal Can boosted its position in shares of Nordson by 8.1% in the 1st quarter. Bank of Montreal Can now owns 30,540 shares of the industrial products company's stock valued at $7,108,000 after purchasing an additional 2,289 shares during the period. Addison Advisors LLC acquired a new stake in shares of Nordson in the 1st quarter valued at about $66,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in shares of Nordson in the 4th quarter valued at about $1,118,000. Hedge funds and other institutional investors own 72.03% of the company's stock.
Get Nordson alerts:Nordson Price Performance
Shares of NASDAQ NDSN opened at $218.98 on Monday. The stock's 50-day moving average is $227.63 and its two-hundred day moving average is $219.61. 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 has a 1-year low of $194.89 and a 1-year high of $272.28. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95.
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings data on Monday, August 22nd. The industrial products company reported $2.49 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.05. Nordson had a return on equity of 23.66% and a net margin of 19.25%. The business had revenue of $662.13 million for the quarter, compared to the consensus estimate of $650.90 million. During the same quarter in the prior year, the business posted $2.42 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Analysts forecast that Nordson will post 9.33 EPS for the current fiscal year.Nordson Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a $0.65 dividend. The ex-dividend date was Monday, August 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Nordson's previous quarterly dividend of $0.51. Nordson's dividend payout ratio is presently 31.48%.
Analyst Ratings Changes
Several equities analysts recently issued reports on NDSN shares. Robert W. Baird increased their target price on Nordson from $232.00 to $271.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 24th. Morgan Stanley decreased their target price on Nordson from $270.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 9th. DA Davidson upped their price target on Nordson from $265.00 to $270.00 in a report on Tuesday, August 23rd. Finally, StockNews.com downgraded Nordson from a "buy" rating to a "hold" rating in a report on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $270.20.
About Nordson
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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).
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