Harvey Investment Co. LLC Decreases Position in Nordson Co. (NASDAQ:NDSN)

Harvey Investment Co. LLC decreased its position in Nordson Co. (NASDAQ:NDSN) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,837 shares of the industrial products company’s stock after selling 1,585 shares during the period. Nordson comprises approximately 2.6% of Harvey Investment Co. LLC’s portfolio, making the stock its 14th biggest holding. Harvey Investment Co. LLC’s holdings in Nordson were worth $23,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Nordson in the second quarter valued at $27,000. Tortoise Investment Management LLC raised its stake in Nordson by 70.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 58 shares during the period. Blue Trust Inc. raised its stake in Nordson by 130.0% in the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Nordson during the second quarter valued at about $46,000. Finally, UMB Bank n.a. boosted its position in Nordson by 2,387.5% during the second quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 191 shares during the period. 72.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nordson news, EVP Joseph P. Kelley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $249.98, for a total value of $749,940.00. Following the sale, the executive vice president now owns 8,659 shares of the company’s stock, valued at $2,164,576.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by company insiders.

Nordson Stock Down 0.5 %

Shares of NASDAQ NDSN opened at $249.97 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.36 and a debt-to-equity ratio of 0.49. The company has a market cap of $14.32 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.04 and a beta of 0.90. Nordson Co. has a 52 week low of $208.91 and a 52 week high of $279.38. The business has a 50-day simple moving average of $253.24 and a two-hundred day simple moving average of $247.98.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same quarter in the prior year, the firm posted $2.35 EPS. Nordson’s revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $0.78 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 annualized dividend and a yield of 1.25%. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price target on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $299.00.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.