StockNews.com Lowers Northern Technologies International (NASDAQ:NTIC) to Hold

StockNews.com cut shares of Northern Technologies International (NASDAQ:NTIC) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Northland Securities raised their target price on shares of Northern Technologies International from $19.00 to $20.00 and gave the stock an outperform rating in a report on Friday, April 12th.

Northern Technologies International Stock Down 6.9 %

Shares of NTIC opened at $13.02 on Thursday. The company has a market capitalization of $122.78 million, a P/E ratio of 28.30 and a beta of 0.62. The firm has a 50 day moving average of $17.28 and a 200 day moving average of $14.93. 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 data on Thursday, July 11th. The specialty chemicals company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $20.69 million during the quarter, compared to the consensus estimate of $23.00 million. Northern Technologies International had a return on equity of 5.86% and a net margin of 5.48%. During the same quarter in the previous year, the business posted $0.17 earnings per share. On average, sell-side analysts expect that Northern Technologies International will post 0.78 EPS for the current year.

Northern Technologies International Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, April 30th. Northern Technologies International’s payout ratio is 60.87%.

Institutional Trading of Northern Technologies International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new position in Northern Technologies International in the 4th quarter worth $83,000. Penn Mutual Asset Management LLC lifted its position in shares of Northern Technologies International by 40.8% during the 4th 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 in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Northern Technologies International by 10.9% during the 4th 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 in the last quarter. Finally, Sheets Smith Wealth Management grew its stake in shares of Northern Technologies International by 27.3% during the 4th quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock valued at $652,000 after acquiring an additional 11,877 shares during the period. 32.88% of the stock is owned by hedge funds and other 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.