Harvey Investment Co. LLC Acquires 9,405 Shares of Nordson Corporation (NASDAQ:NDSN)

Harvey Investment Co. LLC raised its holdings in shares of Nordson Corporation (NASDAQ:NDSN - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,627 shares of the industrial products company's stock after buying an additional 9,405 shares during the quarter. Nordson comprises 2.1% of Harvey Investment Co. LLC's investment portfolio, making the stock its 15th largest holding. Harvey Investment Co. LLC owned approximately 0.17% of Nordson worth $19,290,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after buying an additional 89 shares during the last quarter. Tortoise Investment Management LLC grew its position in Nordson by 73.7% in the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock valued at $57,000 after acquiring an additional 115 shares during the period. Kapitalo Investimentos Ltda bought a new stake in Nordson in the fourth quarter valued at $62,000. CX Institutional bought a new stake in Nordson in the first quarter valued at $67,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Nordson in the fourth quarter valued at $92,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Stock Down 0.3%

Shares of NASDAQ:NDSN traded down $0.64 during mid-day trading on Wednesday, reaching $212.72. 488,089 shares of the stock were exchanged, compared to its average volume of 326,292. 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 company has a market cap of $12.02 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.64 and a beta of 0.89. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock's 50 day simple moving average is $201.46 and its 200-day simple moving average is $206.55.

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

Nordson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.12 dividend on an annualized basis and a yield of 1.47%. Nordson's dividend payout ratio is 40.10%.

Analyst Upgrades and Downgrades

NDSN has been the topic of a number of analyst reports. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Friday, May 30th. Vertical Research assumed coverage on Nordson in a report on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price on the stock. Robert W. Baird increased their target price on Nordson from $241.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Wall Street Zen upgraded Nordson from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, KeyCorp cut their price target on Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.00.

About Nordson

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.