Nordson Co. (NASDAQ:NDSN) Sees Large Decline in Short Interest

Nordson Co. (NASDAQ:NDSN) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 967,200 shares, a decline of 26.7% from the December 15th total of 1,320,000 shares. Based on an average daily trading volume, of 230,600 shares, the days-to-cover ratio is currently 4.2 days. Currently, 1.9% of the company’s stock are sold short.

Shares of NDSN stock opened at $165.37 on Tuesday. The stock’s 50 day simple moving average is $164.44 and its 200 day simple moving average is $149.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 2.12. Nordson has a twelve month low of $120.19 and a twelve month high of $168.98. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.59 and a beta of 1.21.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $1.79 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.79. Nordson had a return on equity of 22.74% and a net margin of 15.36%. The business had revenue of $585.45 million for the quarter, compared to the consensus estimate of $598.16 million. During the same period last year, the business earned $1.44 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Nordson will post 6.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, December 19th. Nordson’s payout ratio is 25.89%.

In other news, CFO Gregory A. Thaxton sold 3,041 shares of Nordson stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of $163.07, for a total transaction of $495,895.87. Following the completion of the sale, the chief financial officer now directly owns 53,958 shares in the company, valued at approximately $8,798,931.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ginger M. Jones purchased 1,000 shares of Nordson stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $165.95 per share, with a total value of $165,950.00. Following the completion of the acquisition, the director now owns 1,782 shares in the company, valued at $295,722.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 66,692 shares of company stock valued at $10,429,154. 1.97% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in Nordson in the 3rd quarter worth approximately $27,000. Quest Capital Management Inc. ADV bought a new position in Nordson in the 3rd quarter worth approximately $48,000. First Allied Advisory Services Inc. bought a new position in Nordson in the 3rd quarter worth approximately $202,000. LPL Financial LLC bought a new position in Nordson in the 2nd quarter worth approximately $205,000. Finally, Natixis bought a new position in Nordson in the 2nd quarter worth approximately $229,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. BidaskClub lowered Nordson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Zacks Investment Research lowered Nordson from a “hold” rating to a “sell” rating and set a $173.00 price target for the company. in a report on Thursday, December 5th. ValuEngine lowered Nordson from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer lowered Nordson from an “outperform” rating to a “market perform” rating and set a $155.00 price target for the company. in a report on Friday, December 13th. Finally, Robert W. Baird raised Nordson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $149.00 to $188.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Nordson currently has an average rating of “Hold” and an average target price of $159.33.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.

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