Nordson Corporation (NDSN), a leading supplier of precision technologies for ambient temperature material dispensing company yesterday reported their fiscal third quarter 2017 financial results.

Nordson reported adjusted third quarter earnings of $1.78 per share which beat analyst expectations of $1.66 per share with revenues coming in at $589.4 million which also beat analyst expectations of $575.6 million.   

Nordson Corporation CEO’s  Comments

“Nordson delivered the strongest quarter in its history with excellent organic growth across the business, strong contributions from recent acquisitions, and continued execution by our global team. Robust customer demand for our technology in all segments and nearly all geographies drove organic revenue growth of 11 percent in the third quarter compared to the prior year period, exceeding the high end of our expectations. We also continued to execute on continuous improvement initiatives across the enterprise during the quarter employing tools from the Nordson Business System.”  Motley Fool

NDSN Technical Analysis

NDSN opened trading yesterday at $123.93 which was down from the previous day’s trading close of $124.13. NDSN closed trading yesterday at $125.12 and spiked down after market to $112.35, equivalent to a 10% decrease from the closing price. Taking a look at the daily chart we can see the last time NDSN traded below these levels we have to go back to January 23rd when it traded at $111.44.

Taking a closer look at the daily chart we can see that before the spike down NDSN had been in an overall upward trend dating back to June 7th when it traded at $114.28. NDSN has a float of 50.64 million shares and traded 1.28 times the normal daily trading volume on Monday.