Northern Technologies International Co. (NASDAQ:NTIC) Short … – MarketBeat

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Northern Technologies International Co. (NASDAQ:NTIC – Get Rating) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 13,300 shares, a growth of 79.7% from the November 30th total of 7,400 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is presently 1.1 days.

Northern Technologies International Trading Up 3.5 %

Shares of NASDAQ:NTIC traded up $0.46 during mid-day trading on Thursday, hitting $13.60. 22,515 shares of the company traded hands, compared to its average volume of 9,166. The stock has a market cap of $127.38 million, a P/E ratio of 19.91 and a beta of 0.90. Northern Technologies International has a 12-month low of $9.05 and a 12-month high of $15.83. The stock has a 50-day moving average price of $13.03 and a two-hundred day moving average price of $11.89.
Northern Technologies International (NASDAQ:NTIC – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The specialty chemicals company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.05). Northern Technologies International had a return on equity of 4.41% and a net margin of 8.53%. The business had revenue of $20.25 million for the quarter, compared to the consensus estimate of $19.50 million. As a group, analysts expect that Northern Technologies International will post 0.74 earnings per share for the current year.

Northern Technologies International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Thursday, November 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, November 2nd. Northern Technologies International’s payout ratio is 42.42%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NTIC. Salem Investment Counselors Inc. boosted its stake in shares of Northern Technologies International by 234.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 3,708 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 2,600 shares during the last quarter. Compass Ion Advisors LLC raised its holdings in Northern Technologies International by 8.6% during the second quarter. Compass Ion Advisors LLC now owns 14,907 shares of the specialty chemicals company’s stock valued at $139,000 after acquiring an additional 1,183 shares during the period. State Street Corp raised its holdings in Northern Technologies International by 15.0% during the first quarter. State Street Corp now owns 19,227 shares of the specialty chemicals company’s stock valued at $231,000 after acquiring an additional 2,512 shares during the period. Meros Investment Management LP raised its holdings in Northern Technologies International by 7.3% during the first quarter. Meros Investment Management LP now owns 206,479 shares of the specialty chemicals company’s stock valued at $2,481,000 after acquiring an additional 14,119 shares during the period. Finally, Rutabaga Capital Management LLC MA raised its holdings in Northern Technologies International by 20.5% during the third quarter. Rutabaga Capital Management LLC MA now owns 387,416 shares of the specialty chemicals company’s stock valued at $5,157,000 after acquiring an additional 65,817 shares during the period. Institutional investors own 34.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Northland Securities increased their price target on Northern Technologies International to $21.00 in a research note on Thursday, November 17th. TheStreet downgraded Northern Technologies International from a “b” rating to a “c+” rating in a research report on Monday, November 14th. Finally, StockNews.com began coverage on Northern Technologies International in a research note on Thursday, December 15th. They issued a “hold” rating for the company.

About Northern Technologies International

(Get Rating)
Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services 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.

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