Northern Technologies International Co. (NASDAQ:NTIC) to Issue Quarterly Dividend of $0.07

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Wednesday, May 1st will be given a dividend of 0.07 per share by the specialty chemicals company on Wednesday, May 15th. This represents a $0.28 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 30th.

Northern Technologies International has increased its dividend by an average of 62.7% per year over the last three years. Northern Technologies International has a dividend payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Technologies International to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 28.0%.

Northern Technologies International Price Performance

NTIC stock opened at $15.48 on Thursday. The stock has a market capitalization of $145.98 million, a price-to-earnings ratio of 29.77 and a beta of 0.73. Northern Technologies International has a fifty-two week low of $10.08 and a fifty-two week high of $15.96. The business’s fifty day moving average price is $13.54 and its two-hundred day moving average price is $12.57.

Institutional Trading of Northern Technologies International

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Northern Technologies International by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 432,959 shares of the specialty chemicals company’s stock valued at $5,105,000 after buying an additional 1,801 shares in the last quarter. Meros Investment Management LP boosted its stake in Northern Technologies International by 1.2% in the fourth quarter. Meros Investment Management LP now owns 214,713 shares of the specialty chemicals company’s stock valued at $2,531,000 after buying an additional 2,648 shares in the last quarter. Needham Investment Management LLC boosted its stake in Northern Technologies International by 50.2% in the fourth quarter. Needham Investment Management LLC now owns 260,000 shares of the specialty chemicals company’s stock valued at $3,063,000 after buying an additional 86,952 shares in the last quarter. Stifel Financial Corp boosted its stake in Northern Technologies International by 5.2% in the fourth quarter. Stifel Financial Corp now owns 26,032 shares of the specialty chemicals company’s stock valued at $307,000 after buying an additional 1,297 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Northern Technologies International by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 336,954 shares of the specialty chemicals company’s stock valued at $3,969,000 after buying an additional 2,903 shares in the last quarter. 32.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NTIC. TheStreet raised Northern Technologies International from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Northland Securities increased their target price on Northern Technologies International from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, StockNews.com raised Northern Technologies International from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th.

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.