Needham Investment Management LLC Purchases 107,500 Shares of Northern Technologies International Co. (NASDAQ:NTIC)

Needham Investment Management LLC raised its position in Northern Technologies International Co. (NASDAQ:NTIC) by 25.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 522,500 shares of the specialty chemicals company’s stock after acquiring an additional 107,500 shares during the period. Needham Investment Management LLC owned approximately 0.06% of Northern Technologies International worth $6,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NTIC. Meros Investment Management LP raised its stake in shares of Northern Technologies International by 25.2% in the second quarter. Meros Investment Management LP now owns 269,510 shares of the specialty chemicals company’s stock valued at $4,463,000 after buying an additional 54,209 shares during the period. Acadian Asset Management LLC raised its stake in shares of Northern Technologies International by 198.1% during the 2nd quarter. Acadian Asset Management LLC now owns 59,957 shares of the specialty chemicals company’s stock valued at $990,000 after purchasing an additional 39,841 shares during the period. Renaissance Technologies LLC raised its stake in shares of Northern Technologies International by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 135,077 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 33,000 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Northern Technologies International by 63.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 75,400 shares of the specialty chemicals company’s stock valued at $927,000 after purchasing an additional 29,400 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its stake in shares of Northern Technologies International by 69.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 51,580 shares of the specialty chemicals company’s stock valued at $634,000 after purchasing an additional 21,135 shares during the period. 32.88% of the stock is currently owned by institutional investors.

Northern Technologies International Stock Down 1.5 %

Shares of NASDAQ:NTIC traded down $0.21 during midday trading on Tuesday, reaching $13.71. 10,417 shares of the company traded hands, compared to its average volume of 17,320. Northern Technologies International Co. has a 12 month low of $10.08 and a 12 month high of $19.63. The firm has a market capitalization of $129.83 million, a price-to-earnings ratio of 24.93 and a beta of 0.63. The firm’s fifty day moving average price is $12.86 and its two-hundred day moving average price is $14.09.

Northern Technologies International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, October 30th. Northern Technologies International’s payout ratio is 50.91%.

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.