Nordson Co. (NASDAQ:NDSN) – Equities research analysts at DA Davidson lowered their FY2018 earnings per share (EPS) estimates for shares of Nordson in a research note issued to investors on Thursday, November 29th. DA Davidson analyst M. Summerville now anticipates that the industrial products company will post earnings of $5.93 per share for the year, down from their prior 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.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Nordson from a “hold” rating to a “sell” rating in a research note on Saturday. ValuEngine raised shares of Nordson from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research cut shares of Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $151.57.
A number of institutional investors have recently added to or reduced their stakes in NDSN. American Century Companies Inc. boosted its position in Nordson by 57.0% in the 3rd quarter. American Century Companies Inc. now owns 576,361 shares of the industrial products company’s stock valued at $80,057,000 after buying an additional 209,141 shares during the period. Schroder Investment Management Group boosted its position in Nordson by 30.9% in the 2nd quarter. Schroder Investment Management Group now owns 615,526 shares of the industrial products company’s stock valued at $56,047,000 after buying an additional 145,187 shares during the period. BlackRock Inc. boosted its position in Nordson by 2.7% in the 3rd quarter. BlackRock Inc. now owns 4,639,617 shares of the industrial products company’s stock valued at $644,443,000 after buying an additional 121,090 shares during the period. Vanguard Group Inc. boosted its position in Nordson by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,024,905 shares of the industrial products company’s stock valued at $697,959,000 after buying an additional 113,574 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Nordson by 45.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 282,042 shares of the industrial products company’s stock valued at $36,218,000 after buying an additional 88,485 shares during the period. 68.03% of the stock is owned by institutional investors.
In other Nordson news, Director Mary G. Puma sold 2,983 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were 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 directly owns 18,799 shares of the company’s stock, valued at approximately $2,734,126.56. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.01% of the stock is owned by insiders.
Nordson announced that its board has initiated a stock repurchase plan on Tuesday, September 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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