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4-Traders Homepage  >  Equities  >  Nasdaq  >  Nordson Corporation    NDSN

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Nordson Corporation : Activates Previously Authorized Share Repurchase Program

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02/27/2013 | 03:05pm CET

Nordson Corporation (Nasdaq: NDSN) today announced that it is activating its existing stock repurchase plan, authorized by Nordson's Board of Directors in March 2012. Approximately $85 million remains available for repurchasing the company's common shares under the plan's total authorization of $100 million.

"Our announcement today reflects continued confidence in the long-term strength of our company and our ongoing commitment to creating shareholder value," said Nordson President and CEO Michael F. Hilton. "Nordson continues to generate strong cash flow which enables us to be disciplined yet opportunistic in repurchasing shares while also ensuring the proper balance between organic, strategic and continuous improvement initiatives."

Expected uses for repurchased shares include, but are not limited to, funding benefit programs including stock options, restricted stock and 401(k) matching. Shares repurchased will be treated as treasury shares until used for such purposes.

Shares may be purchased from time to time at prevailing prices, subject to market conditions, share price and other considerations. Purchases will be made on the open market pursuant to the applicable Securities Exchange Act Rules and will be funded from operating cash flows.

Nordson Corporation delivers precision technology solutions that help customers succeed worldwide. The company engineers, manufactures and markets differentiated products and systems used for precision dispensing of adhesives, coatings, sealants, biomaterials, fluids and other materials, plastic extrusion and injection molding, electronics testing and inspecting, and surface preparation, 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 30 countries. Visit Nordson on the web at www.nordson.com, http://www.twitter.com/Nordson_Corp or www.facebook.com/nordson.

Nordson Corporation
James R. Jaye, 440-414-5639
Director, Communications & Investor Relations
Jim.Jaye@nordson.com


© Business Wire 2013
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Financials ($)
Sales 2016 1 782 M
EBIT 2016 380 M
Net income 2016 267 M
Debt 2016 932 M
Yield 2016 0,90%
P/E ratio 2016 23,58
P/E ratio 2017 23,01
EV / Sales 2016 4,05x
EV / Sales 2017 3,79x
Capitalization 6 277 M
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Mean consensus HOLD
Number of Analysts 13
Average target price 106 $
Spread / Average Target -3,3%
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Managers
NameTitle
Michael F. Hilton President, Chief Executive Officer & Director
Joseph P. Keithley Chairman
Gregory A. Thaxton Chief Financial Officer & Senior Vice President
Shelly M. Peet Chief Information Officer & VP-Human Resources
Mary G. Puma Independent Director
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