StockNews.com Downgrades 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 report report published on Wednesday.

A number of other research firms have also recently issued reports on NTIC. Northland Securities lifted their target price on shares of Northern Technologies International from $19.00 to $20.00 and gave the company 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.

Northern Technologies International Trading Down 0.5 %

NASDAQ:NTIC opened at $17.31 on Wednesday. Northern Technologies International has a 1 year low of $10.08 and a 1 year high of $17.55. The firm has a 50 day moving average of $13.99 and a 200-day moving average of $12.76. The stock has a market capitalization of $163.23 million, a P/E 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. Investors of record on Wednesday, May 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 30th. Northern Technologies International’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Ballast Asset Management LP bought a new position in Northern Technologies International in the 3rd quarter worth approximately $2,911,000. Sheets Smith Wealth Management raised 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 worth $652,000 after purchasing an additional 11,877 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Northern Technologies International by 11.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 38,000 shares of the specialty chemicals company’s stock worth $508,000 after purchasing an additional 4,000 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in 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 worth $317,000 after acquiring an additional 2,634 shares during the period. Finally, Penn Mutual Asset Management LLC grew its holdings in 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 worth $281,000 after acquiring an additional 6,910 shares during the period. Institutional investors own 32.88% of the company’s stock.

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.