Insider Buying: Northern Technologies International Co. (NASDAQ:NTIC) Director Acquires 1,275 Shares of Stock

Northern Technologies International Co. (NASDAQ:NTIC) Director Sarah E. Kemp bought 1,275 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average cost of $15.70 per share, for a total transaction of $20,017.50. Following the completion of the purchase, the director now owns 5,760 shares of the company’s stock, valued at approximately $90,432. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Northern Technologies International Stock Performance

NASDAQ NTIC opened at $17.31 on Friday. Northern Technologies International Co. has a one year low of $10.08 and a one year high of $17.55. The stock has a 50-day moving average of $13.99 and a 200 day moving average of $12.76. The company has a market capitalization of $163.23 million, a price-to-earnings ratio of 33.29 and a beta of 0.73.

Northern Technologies International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.62%. Northern Technologies International’s payout ratio is 53.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ballast Asset Management LP purchased a new stake in Northern Technologies International during the 3rd quarter valued at $2,911,000. Penn Mutual Asset Management LLC purchased a new stake in Northern Technologies International during the third quarter valued at $227,000. Sheets Smith Wealth Management lifted 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 acquiring an additional 11,877 shares during the period. Connors Investor Services Inc. purchased a new position in Northern Technologies International in the third quarter worth about $139,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Northern Technologies International during the 4th quarter valued at about $83,000. Institutional investors own 32.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTIC. Northland Securities upped their price target on shares of Northern Technologies International from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. TheStreet upgraded shares of Northern Technologies International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, StockNews.com downgraded shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.