Harvey Investment Co. LLC Cuts Holdings in Nordson Co. (NASDAQ:NDSN)

Harvey Investment Co. LLC lowered its holdings in Nordson Co. (NASDAQ:NDSN) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,222 shares of the industrial products company’s stock after selling 1,615 shares during the quarter. Nordson accounts for about 2.1% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 18th biggest holding. Harvey Investment Co. LLC owned 0.15% of Nordson worth $18,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDSN. State Street Corp grew its position in Nordson by 7.2% in the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company’s stock worth $692,916,000 after purchasing an additional 177,282 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Nordson by 26,109.1% in the 3rd quarter. International Assets Investment Management LLC now owns 104,050 shares of the industrial products company’s stock worth $27,327,000 after buying an additional 103,653 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Nordson by 71.0% in the third quarter. Natixis Advisors LLC now owns 157,582 shares of the industrial products company’s stock worth $41,386,000 after acquiring an additional 65,436 shares during the period. Massachusetts Financial Services Co. MA increased its position in Nordson by 23.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company’s stock valued at $84,499,000 after acquiring an additional 61,430 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Nordson by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company’s stock valued at $135,138,000 after acquiring an additional 48,720 shares during the period. 72.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NDSN. DA Davidson cut their price target on Nordson from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Seaport Res Ptn upgraded shares of Nordson from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Loop Capital upgraded shares of Nordson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Robert W. Baird restated a “neutral” rating and issued a $237.00 price objective (down from $294.00) on shares of Nordson in a research note on Friday, December 13th. Finally, Baird R W cut Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nordson presently has an average rating of “Moderate Buy” and a consensus target price of $279.25.

Nordson Stock Down 0.1 %

NDSN opened at $215.30 on Friday. Nordson Co. has a fifty-two week low of $196.83 and a fifty-two week high of $279.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.41. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The firm’s fifty day moving average is $221.33 and its 200 day moving average is $240.81.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. The firm had revenue of $744.00 million during the quarter, compared to analyst estimates of $736.83 million. Nordson had a return on equity of 19.87% and a net margin of 17.37%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. On average, sell-side analysts forecast that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 2nd. Nordson’s dividend payout ratio is presently 38.47%.

Insider Buying and Selling

In other news, EVP Jennifer L. Mcdonough sold 225 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $262.27, for a total transaction of $59,010.75. Following the transaction, the executive vice president now directly owns 3,287 shares in the company, valued at approximately $862,081.49. This trade represents a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Lovass sold 317 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total transaction of $82,657.75. Following the completion of the transaction, the executive vice president now directly owns 6,666 shares of the company’s stock, valued at $1,738,159.50. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,928 shares of company stock valued at $433,080 over the last quarter. 0.80% of the stock is owned by corporate insiders.

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.