Zacks Investment Research Lowers Northern Technologies International (NASDAQ:NTIC) to Sell

Zacks Investment Research lowered shares of Northern Technologies International (NASDAQ:NTIC) from a hold rating to a sell rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Northern Technologies International Corporation (NTIC) develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over fifty countries. NTIC’s primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST and EXCOR rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets. The company’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC launched a new product line of compounds and finished products based on a portfolio of proprietary bio-plastic technologies under the Natur- Tec brand. NTIC also is in various stages of development with respect to several other emerging businesses. “

Separately, TheStreet upgraded shares of Northern Technologies International from a c+ rating to a b rating in a report on Thursday, January 6th.

Shares of NASDAQ NTIC opened at $13.35 on Wednesday. Northern Technologies International has a twelve month low of $12.50 and a twelve month high of $21.50. The firm has a market cap of $122.82 million, a P/E ratio of 13.76 and a beta of 1.03. The company has a 50 day moving average of $15.01 and a 200 day moving average of $16.61.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings data on Thursday, January 6th. The specialty chemicals company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Northern Technologies International had a return on equity of 8.82% and a net margin of 15.37%. The firm had revenue of $18.19 million during the quarter, compared to analysts’ expectations of $16.90 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Equities research analysts predict that Northern Technologies International will post 0.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 17th. Shareholders of record on Wednesday, November 3rd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, November 2nd. This is an increase from Northern Technologies International’s previous quarterly dividend of $0.07. Northern Technologies International’s payout ratio is 28.87%.

In related news, Director Sarah E. Kemp bought 2,012 shares of the business’s stock in a transaction on Wednesday, January 12th. The stock was acquired at an average price of $14.91 per share, with a total value of $29,998.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Northern Technologies International by 521.3% during the 3rd quarter. Barclays PLC now owns 2,013 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 1,689 shares in the last quarter. Sphinx Trading LP purchased a new stake in Northern Technologies International in the 3rd quarter worth $129,000. State Street Corp purchased a new stake in Northern Technologies International in the 2nd quarter worth $222,000. PNC Financial Services Group Inc. purchased a new stake in Northern Technologies International in the 3rd quarter worth $304,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Northern Technologies International in the 2nd quarter worth $360,000. Institutional investors own 35.51% of the company’s stock.

About Northern Technologies International

Northern Technologies International Corp. engages in the development and market of proprietary environmentally beneficial products and technical services. It operates through the Natur-Tec and Zerust segments. The Natur-Tec segment manufactures bio-degradable and bio-based plastics for industrial and consumer applications.

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