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

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

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

Northern Technologies International Trading Down 6.9 %

NASDAQ NTIC opened at $13.02 on Thursday. Northern Technologies International has a 12 month low of $10.08 and a 12 month high of $19.63. The firm has a market capitalization of $122.78 million, a PE ratio of 28.30 and a beta of 0.62. The business’s 50-day moving average price is $17.28 and its two-hundred day moving average price is $14.93.

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

Northern Technologies International Dividend Announcement

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

Hedge Funds Weigh In On Northern Technologies International

A number of institutional investors have recently modified their holdings of NTIC. Sheets Smith Wealth Management grew its position in Northern Technologies International by 27.3% in the 4th quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock valued at $652,000 after purchasing an additional 11,877 shares during the period. Victory Capital Management Inc. bought a new position in shares of Northern Technologies International in the fourth quarter valued at $83,000. Penn Mutual Asset Management LLC grew its holdings in shares of Northern Technologies International by 40.8% during 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. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Northern Technologies International by 10.9% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 26,724 shares of the specialty chemicals company’s stock worth $317,000 after acquiring an additional 2,634 shares in the last quarter. 32.88% of the stock is owned by institutional investors and hedge funds.

Northern Technologies International Company Profile

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.