Nordson (NDSN) Declares $0.65 Dividend
Nordson said on February 8, 2023 that its board of directors declared a regular quarterly dividend of $0.65 per share ($2.60 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 7, 2023. Previously, the company paid $0.65 per share.
At the current share price of $243.40 / share, the stock's dividend yield is 1.07%. Looking back five years and taking a sample every week, the average dividend yield has been 0.94%, the lowest has been 0.69%, and the highest has been 1.53%. The standard deviation of yields is 0.15 (n=236).
The current dividend yield is 0.89 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.71%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 10.28% Upside
As of February 9, 2023, the average one-year price target for Nordson is $268.43. The forecasts range from a low of $252.50 to a high of $294.00. The average price target represents an increase of 10.28% from its latest reported closing price of $243.40.
The projected annual revenue for Nordson is $2,702MM, an increase of 4.31%. The projected annual EPS is $10.03, an increase of 12.63%.
What is the Fund Sentiment?
There are 1160 funds or institutions reporting positions in Nordson. This is a decrease of 2 owner(s) or 0.17% in the last quarter. Average portfolio weight of all funds dedicated to NDSN is 0.23%, an increase of 9.07%. Total shares owned by institutions decreased in the last three months by 1.05% to 47,689K shares. The put/call ratio of NDSN is 1.06, indicating a bearish outlook.
What are large shareholders doing?
Kayne Anderson Rudnick Investment Management holds 2,097K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 2,087K shares, representing an increase of 0.48%. The firm increased its portfolio allocation in NDSN by 10.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,541K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 1,537K shares, representing an increase of 0.26%. The firm increased its portfolio allocation in NDSN by 9.59% over the last quarter.
Geode Capital Management holds 1,387K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 1,345K shares, representing an increase of 3.07%. The firm increased its portfolio allocation in NDSN by 12.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,314K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 1,317K shares, representing a decrease of 0.17%. The firm increased its portfolio allocation in NDSN by 9.16% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 1,226K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 1,193K shares, representing an increase of 2.66%. The firm increased its portfolio allocation in NDSN by 11.39% over the last quarter.
Nordson Background Information
(This description is provided by the company.)
Nordson Corporation engineers, manufactures and markets differentiated products and systems used for the precision dispensing of adhesives, coatings, sealants, biomaterials, polymers, plastics and other materials, fluid management, test and inspection, UV curing and plasma surface treatment, all supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in more than 35 countries.
This story originally appeared on Fintel.