Northern Technologies International (NASDAQ:NTIC) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Northern Technologies International (NASDAQ:NTIC) from a hold rating to a buy rating in a report published on Monday.

Several other research firms have also recently issued reports on NTIC. TheStreet raised shares of Northern Technologies International from a c+ rating to a b- rating in a research report on Tuesday, February 27th. Northland Securities lifted their price objective on shares of 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 Stock Up 6.6 %

Shares of NTIC stock opened at $16.40 on Monday. Northern Technologies International has a 52 week low of $10.08 and a 52 week high of $19.63. The stock has a market capitalization of $154.65 million, a PE ratio of 31.54 and a beta of 0.61. The firm has a 50 day moving average of $17.59 and a two-hundred day moving average of $14.55.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings data on Thursday, April 11th. The specialty chemicals company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $20.84 million during the quarter, compared to analysts’ expectations of $21.20 million. Northern Technologies International had a net margin of 6.12% and a return on equity of 6.68%. Analysts expect that Northern Technologies International will post 0.78 EPS for the current fiscal year.

Northern Technologies International Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.71%. Northern Technologies International’s dividend payout ratio is currently 53.85%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new position in Northern Technologies International in the fourth quarter valued at $83,000. Connors Investor Services Inc. acquired a new position in Northern Technologies International in the third quarter valued at $139,000. Acadian Asset Management LLC increased its stake in Northern Technologies International by 30.6% in the third quarter. Acadian Asset Management LLC now owns 20,116 shares of the specialty chemicals company’s stock valued at $267,000 after purchasing an additional 4,712 shares during the period. Penn Mutual Asset Management LLC increased its stake 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 purchasing an additional 6,910 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake 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 during the period. 32.88% of the stock is currently owned by institutional investors and hedge funds.

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.