Nordson Co. (NASDAQ:NDSN) to Post Q2 2023 Earnings of $2.09 Per Share, Oppenheimer Forecasts

Nordson Co. (NASDAQ:NDSN – Get Rating) – Research analysts at Oppenheimer decreased their Q2 2023 earnings estimates for shares of Nordson in a research report issued on Monday, February 27th. Oppenheimer analyst C. Glynn now anticipates that the industrial products company will earn $2.09 per share for the quarter, down from their previous forecast of $2.42. The consensus estimate for Nordson’s current full-year earnings is $9.03 per share. Oppenheimer also issued estimates for Nordson’s Q4 2023 earnings at $2.54 EPS.

Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.95 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.03). Nordson had a net margin of 19.18% and a return on equity of 23.67%. The company had revenue of $610.48 million during the quarter, compared to the consensus estimate of $625.87 million. During the same period in the prior year, the company earned $2.07 earnings per share.

A number of other brokerages have also issued reports on NDSN. Robert W. Baird decreased their target price on shares of Nordson from $259.00 to $241.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordson has an average rating of “Hold” and an average price target of $255.20.

Nordson Stock Performance

Shares of NASDAQ:NDSN opened at $220.90 on Thursday. The company’s 50 day moving average price is $237.12 and its two-hundred day moving average price is $231.08. Nordson has a 12-month low of $194.89 and a 12-month high of $251.26. The firm has a market cap of $12.65 billion, a PE ratio of 25.75, a PEG ratio of 1.87 and a beta of 0.91. The company has a quick ratio of 0.89, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Nordson

Several large investors have recently modified their holdings of NDSN. Morgan Stanley raised its stake 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 acquiring an additional 1,037,295 shares during the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 850,479 shares during the last quarter. Norges Bank bought a new position in shares of Nordson during the fourth quarter valued at $176,078,000. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 633,821 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Nordson by 2,094.6% during the fourth quarter. Millennium Management LLC now owns 469,789 shares of the industrial products company’s stock worth $111,678,000 after buying an additional 448,382 shares during the last quarter. Institutional investors own 70.40% of the company’s stock.

Insider Buying and Selling

In related news, EVP Shelly Peet sold 1,611 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $238.00, for a total transaction of $383,418.00. Following the sale, the executive vice president now owns 25,061 shares in the company, valued at approximately $5,964,518. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nordson news, EVP Shelly Peet sold 1,611 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $238.00, for a total value of $383,418.00. Following the sale, the executive vice president now owns 25,061 shares in the company, valued at $5,964,518. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey A. Pembroke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $243.48, for a total transaction of $1,217,400.00. Following the completion of the sale, the executive vice president now owns 17,600 shares in the company, valued at approximately $4,285,248. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,403 shares of company stock worth $2,515,941. Corporate insiders own 0.70% of the company’s stock.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, February 17th. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. Nordson’s dividend payout ratio is 30.30%.

Nordson Company Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.