Harvey Investment Co. LLC Has $19.29 Million Stock Position in Nordson Corporation (NASDAQ:NDSN)

Harvey Investment Co. LLC boosted its position in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,627 shares of the industrial products company's stock after purchasing an additional 9,405 shares during the period. Nordson accounts for approximately 2.1% of Harvey Investment Co. LLC's portfolio, making the stock its 15th biggest position. Harvey Investment Co. LLC owned about 0.17% of Nordson worth $19,290,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Praxis Investment Management Inc. raised its stake in shares of Nordson by 64.6% in the 1st quarter. Praxis Investment Management Inc. now owns 2,090 shares of the industrial products company's stock valued at $422,000 after acquiring an additional 820 shares in the last quarter. Clark & Stuart Inc raised its position in shares of Nordson by 6.8% in the first quarter. Clark & Stuart Inc now owns 21,112 shares of the industrial products company's stock valued at $4,275,000 after purchasing an additional 1,340 shares during the period. Norris Perne & French LLP MI raised its position in shares of Nordson by 4.7% in the first quarter. Norris Perne & French LLP MI now owns 61,786 shares of the industrial products company's stock valued at $12,464,000 after purchasing an additional 2,782 shares during the period. ORG Wealth Partners LLC raised its position in shares of Nordson by 45.9% in the first quarter. ORG Wealth Partners LLC now owns 699 shares of the industrial products company's stock valued at $141,000 after purchasing an additional 220 shares during the period. Finally, Global X Japan Co. Ltd. raised its position in shares of Nordson by 32.8% in the first quarter. Global X Japan Co. Ltd. now owns 2,776 shares of the industrial products company's stock valued at $560,000 after purchasing an additional 686 shares during the period. Institutional investors own 72.11% of the company's stock.

Nordson Trading Down 1.9%

Nordson stock opened at $209.55 on Friday. The business has a 50 day moving average price of $199.64 and a two-hundred day moving average price of $207.08. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. Nordson Corporation has a 12 month low of $165.03 and a 12 month high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $682.94 million during the quarter, compared to analysts' expectations of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, equities analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 annualized dividend and a yield of 1.49%. Nordson's dividend payout ratio (DPR) is 40.10%.

Analysts Set New Price Targets

A number of research firms have recently commented on NDSN. Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target on the stock. BNP Paribas cut Nordson from an "outperform" rating to a "neutral" rating and set a $219.00 price objective for the company. in a research report on Monday, February 24th. KeyCorp cut their price objective on Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Wolfe Research initiated coverage on Nordson in a research report on Wednesday. They set a "peer perform" rating for the company. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nordson presently has an average rating of "Moderate Buy" and a consensus target price of $252.00.

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.

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