Northern Technologies International’s (NTIC) Outperform Rating Reiterated at Northland Securities

Northland Securities reiterated their outperform rating on shares of Northern Technologies International (NASDAQ:NTIC) in a research note released on Friday morning, Benzinga reports. Northland Securities currently has a $20.00 price objective on the specialty chemicals company’s stock.

Separately, StockNews.com downgraded shares of Northern Technologies International from a buy rating to a hold rating in a research note on Thursday.

Northern Technologies International Trading Down 6.9 %

NTIC opened at $13.02 on Friday. The company has a fifty day simple moving average of $17.28 and a 200 day simple moving average of $14.93. The firm has a market cap of $122.78 million, a price-to-earnings ratio of 28.30 and a beta of 0.62. Northern Technologies International has a twelve month low of $10.08 and a twelve month high of $19.63.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings results on Thursday, July 11th. The specialty chemicals company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $23.00 million. Northern Technologies International had a net margin of 5.48% and a return on equity of 5.86%. During the same period in the previous year, the business posted $0.17 earnings per share. On average, analysts forecast that Northern Technologies International will post 0.78 earnings per share for the current fiscal year.

Northern Technologies International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, April 30th. Northern Technologies International’s dividend payout ratio is currently 60.87%.

Institutional Trading of Northern Technologies International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC increased its holdings in Northern Technologies International by 10.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 26,724 shares of the specialty chemicals company’s stock valued at $317,000 after buying an additional 2,634 shares during the last quarter. Penn Mutual Asset Management LLC increased its holdings in Northern Technologies International by 40.8% in the fourth quarter. Penn Mutual Asset Management LLC now owns 23,860 shares of the specialty chemicals company’s stock valued at $281,000 after buying an additional 6,910 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Northern Technologies International in the fourth quarter valued at about $83,000. Finally, Sheets Smith Wealth Management increased its holdings in Northern Technologies International by 27.3% in the fourth quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock valued at $652,000 after buying an additional 11,877 shares during the last quarter. 32.88% of the stock is owned by institutional investors.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.