Horan Securities Inc. Takes $866,000 Position in Nordson Corporation $NDSN

Horan Securities Inc. acquired a new position in shares of Nordson Corporation (NASDAQ:NDSN) in the second quarter, Holdings Channel reports. The institutional investor acquired 4,040 shares of the industrial products company’s stock, valued at approximately $866,000.

Other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in Nordson by 3.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,273 shares of the industrial products company’s stock valued at $540,867,000 after purchasing an additional 90,704 shares during the period. Invesco Ltd. boosted its stake in shares of Nordson by 15.9% in the 1st quarter. Invesco Ltd. now owns 1,043,703 shares of the industrial products company’s stock valued at $210,536,000 after purchasing an additional 142,991 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Nordson by 156.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company’s stock worth $205,685,000 after buying an additional 621,734 shares during the period. Bank of New York Mellon Corp raised its stake in Nordson by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 542,208 shares of the industrial products company’s stock worth $116,233,000 after buying an additional 41,507 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Nordson by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 470,997 shares of the industrial products company’s stock worth $95,010,000 after buying an additional 11,287 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Joseph P. Kelley sold 2,200 shares of Nordson stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the sale, the executive vice president directly owned 6,405 shares in the company, valued at $1,537,200. The trade was a 25.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Nordson Price Performance

Shares of NASDAQ:NDSN opened at $233.30 on Thursday. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The stock has a market cap of $13.11 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The stock’s fifty day simple moving average is $229.16 and its two-hundred day simple moving average is $216.58. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60.

Nordson (NASDAQ:NDSN) last announced its earnings results on Thursday, September 8th. The industrial products company reported $2.42 earnings per share for the quarter. The firm had revenue of $646.86 million for the quarter. Nordson had a return on equity of 19.45% and a net margin of 16.34%. As a group, analysts forecast that Nordson Corporation will post 10.2 EPS for the current fiscal year.

Nordson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a $0.82 dividend. This is a boost from Nordson’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 1.4%. Nordson’s dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird increased their price target on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. DA Davidson set a $285.00 target price on Nordson in a research note on Tuesday, October 21st. KeyCorp lifted their target price on Nordson from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Nordson currently has an average rating of “Moderate Buy” and an average price target of $255.75.

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.