Stephen Lovass, Executive Vice President at Nordson Corp (NASDAQ:NDSN), a $14.8 billion industrial technology company with strong financial health according to InvestingPro, recently sold shares totaling $82,657, according to a Form 4 filing with the Securities and Exchange Commission. The sales took place on December 2, 2024, with shares sold at a price of $260.75 each.
In addition to these transactions, Lovass also had shares withheld to cover tax obligations related to restricted share units vesting. On November 29, 2024, Lovass had 187 shares withheld at a price of $260.99 per share, amounting to a total of $48,805. These transactions were part of a Rule 10b5-1 Trading Plan adopted earlier in the year. Notably, Nordson has maintained dividend payments for 45 consecutive years, with 31 years of consecutive increases.
Following these transactions, Lovass holds 6,666 shares directly and an additional 199 shares through the company savings plan. Investors should note that Nordson is scheduled to report its next earnings on December 11, 2024. For comprehensive analysis and additional insights, including 12 more ProTips and detailed valuation metrics, visit InvestingPro.
In other recent news, Nordson Corporation has issued $600 million in new debt securities, primarily intended to repay existing borrowings and for general corporate purposes. This follows Nordson's impressive third-quarter earnings, which surpassed analysts' expectations and were driven by robust performances in the Advanced Technology Systems and Industrial Precision Solutions segments, exceeding predictions by $0.02 per share. In light of these developments, analyst firms including Oppenheimer, Seaport Global Securities, Baird, DA Davidson, and KeyBanc have maintained their respective ratings on Nordson.
Loop Capital has maintained a Hold rating on Nordson, following the company's recent analyst event where it updated its five-year growth objectives. The company's revised targets suggest a modest acceleration in growth, projecting an adjusted earnings per share between $14.00 and $15.00 for fiscal year 2029. Nordson also discussed the potential for larger mergers and acquisitions in the future.
DA Davidson reiterated a Buy rating on Nordson shares, expressing confidence in the company’s long-term growth potential. The firm highlighted Nordson's industry-leading market share, advanced technologies, consistent organic growth, and strong free cash flow that could potentially be used for mergers and acquisitions. Nordson's full-year 2024 guidance has been revised to include a $30 million contribution from its recent acquisition of Atrion Corporation, and the company has increased its revenue guidance for fiscal year 2024 to a range of $2.665-$2.705 billion.
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