Northern Technologies International (NASDAQ:NTIC) Receives New Coverage from Analysts at Northland Securities

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Northland Securities initiated coverage on shares of Northern Technologies International (NASDAQ:NTIC) in a research report sent to investors on Thursday morning, The Fly reports. The brokerage issued an outperform rating and a $16.00 price target on the specialty chemicals company’s stock.

Separately, ValuEngine upgraded shares of Northern Technologies International from a sell rating to a hold rating in a research report on Thursday, August 1st.

Shares of NTIC traded up $0.34 during mid-day trading on Thursday, hitting $12.09. 300 shares of the company’s stock were exchanged, compared to its average volume of 8,202. The firm has a market cap of $104.50 million, a price-to-earnings ratio of 17.39 and a beta of 0.97. The stock’s 50-day simple moving average is $11.20 and its 200-day simple moving average is $21.02. Northern Technologies International has a 52 week low of $10.02 and a 52 week high of $17.97.

Northern Technologies International (NASDAQ:NTIC) last posted its quarterly earnings results on Tuesday, July 9th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $14.89 million for the quarter. Northern Technologies International had a net margin of 11.44% and a return on equity of 11.30%. Sell-side analysts forecast that Northern Technologies International will post 0.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.99%. Northern Technologies International’s dividend payout ratio is 33.80%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bremer Bank National Association acquired a new stake in shares of Northern Technologies International during the 1st quarter worth approximately $26,000. Morgan Stanley boosted its position in shares of Northern Technologies International by 333.4% during the 2nd quarter. Morgan Stanley now owns 1,621 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,247 shares in the last quarter. Marshall Wace LLP acquired a new stake in Northern Technologies International in the first quarter valued at approximately $98,000. Bank of America Corp DE acquired a new stake in Northern Technologies International in the fourth quarter valued at approximately $204,000. Finally, Alambic Investment Management L.P. acquired a new stake in Northern Technologies International in the first quarter valued at approximately $266,000. Institutional investors and hedge funds own 16.40% of the company’s stock.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services to automotive, electronics, electrical, mechanical, military, retail consumer, and oil and gas markets. 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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