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EAST PROVIDENCE, R.I. - Nordson EFD, a Nordson company (NASDAQ:NDSN), has completed its eighth year supporting the "Fast Track to Advanced Manufacturing" job shadowing program, according to a press release statement from the company. The $12.1 billion market cap company, which boasts impressive gross profit margins of nearly 55% and has maintained dividend payments for 46 consecutive years, continues to demonstrate its commitment to manufacturing excellence.
The program, hosted by Polaris MEP and the Community College of Rhode Island (CCRI), aims to address Rhode Island’s manufacturing skills gap by preparing individuals for careers in advanced manufacturing through hands-on experience and job shadowing opportunities.
Nordson EFD has hosted trainees from the program as job shadow interns at its East Providence facility, where they gain practical experience in manufacturing processes including blueprint reading, precision measurement, and CNC machine operation.
According to Polaris MEP, Rhode Island’s manufacturing industry currently has more available jobs than qualified workers, with an estimated 3.5 million new skilled manufacturing jobs expected to be created in the next decade nationwide.
"Fast Track to CNC Manufacturing" is a 19-week program that introduces fundamentals of manufacturing, safety, precision measurement, and blueprint reading. Nordson EFD hosted two trainees from the most recent cohort as job shadow interns for three days a week.
"We were among the first companies in Rhode Island to sign up with Polaris MEP to host and hire students participating in this mentorship program," said Scott Menko, Director of Operations at Nordson EFD. The company’s strong operational foundation is reflected in its financial health, with liquid assets exceeding short-term obligations and a current ratio of 2.56, according to InvestingPro data.
Aarin B. Clemons, Workforce Manager at Polaris MEP, noted that "Nordson EFD has been an important employer partner since the inception of the program."
Nordson EFD designs and manufactures precision fluid dispensing systems for assembly processes and automated assembly lines. The company serves various industries including medical device and electronics manufacturing. With annual revenue of $2.7 billion and a healthy EBITDA of $806 million, Nordson demonstrates solid financial performance. For deeper insights into Nordson’s financial health and growth prospects, including 8 additional exclusive ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Nordson Corporation has announced the appointment of Joseph M. Rutledge as the new vice president and chief accounting officer. This move follows his extensive experience at Eaton Corporation, where he managed financial statements and internal controls. In terms of financial performance, Nordson has maintained its quarterly cash dividend at $0.78 per share for the third quarter, demonstrating a consistent return policy for its shareholders. Analysts have also been active in evaluating Nordson’s stock, with Wolfe Research initiating coverage with a Peerperform rating, emphasizing the importance of mergers and acquisitions in Nordson’s strategy.
DA Davidson reaffirmed a Buy rating with a $285 price target, citing increased earnings per share estimates and strong demand in certain sectors. However, they also noted slower demand in industrial coatings and plastics processing. Oppenheimer upgraded Nordson’s stock from Perform to Outperform, setting a $260 target, due to the company’s recovery from cyclical challenges and positive growth prospects. The analyst highlighted improvements in the Adhesive Dispensing Systems segment and potential growth from new products. These developments indicate a focus on strategic growth and financial stability for Nordson Corporation.
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