Harbor Capital Advisors Inc. Grows Stock Holdings in Nordson Corporation $NDSN

Key Points

• Harbor Capital Advisors Inc. increased its position in Nordson Corporation shares by 22.6% during the second quarter, holding a total of 8,193 shares valued at approximately $1.76 million.
• Nordson Corporation's quarterly earnings reported $2.73 EPS, exceeding the analysts' estimates of $2.63, with revenue rising 12.1% year-over-year to $741.51 million.
• The company announced a quarterly dividend increase to $0.82, reflecting a 1.4% dividend yield, and plans to pay it on September 25th, 2023.

Harbor Capital Advisors Inc. boosted its stake in Nordson Corporation (NASDAQ:NDSN - Free Report) by 22.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,193 shares of the industrial products company's stock after acquiring an additional 1,508 shares during the period. Harbor Capital Advisors Inc.'s holdings in Nordson were worth $1,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Nordson by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the industrial products company's stock worth $486,000 after purchasing an additional 67 shares during the period. DAVENPORT & Co LLC raised its stake in Nordson by 18.7% in the first quarter. DAVENPORT & Co LLC now owns 2,653 shares of the industrial products company's stock worth $535,000 after buying an additional 418 shares in the last quarter. Amalgamated Bank lifted its holdings in Nordson by 1.2% in the first quarter. Amalgamated Bank now owns 10,672 shares of the industrial products company's stock worth $2,153,000 after buying an additional 127 shares during the period. Teacher Retirement System of Texas bought a new stake in Nordson during the 1st quarter valued at approximately $1,599,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nordson by 4.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 253,260 shares of the industrial products company's stock worth $51,088,000 after acquiring an additional 9,679 shares during the period. 72.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDSN has been the subject of a number of research analyst reports. Vertical Research began coverage on Nordson in a research note on Tuesday, June 17th. They issued a "hold" rating and a $245.00 target price for the company. Wolfe Research started coverage on Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating for the company. KeyCorp boosted their target price on shares of Nordson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Nordson from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, Robert W. Baird lifted their price target on shares of Nordson from $245.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.75.

Nordson Stock Up 0.1%

NDSN stock traded up $0.26 during trading on Monday, hitting $225.34. 226,826 shares of the stock traded hands, compared to its average volume of 306,312. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.11. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94. Nordson Corporation has a 1 year low of $165.03 and a 1 year high of $266.86. The firm's 50 day moving average is $219.81 and its two-hundred day moving average is $208.27.

Nordson (NASDAQ:NDSN - Get Free Report) last issued its earnings results on Wednesday, August 20th. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.10. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $741.51 million for the quarter, compared to the consensus estimate of $724.04 million. During the same quarter in the prior year, the firm posted $2.41 earnings per share. The business's revenue was up 12.1% on a year-over-year basis. Nordson has set its FY 2025 guidance at 10.100- EPS. On average, sell-side analysts anticipate that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from Nordson's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.5%. Nordson's dividend payout ratio is currently 41.21%.

Nordson Company 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.