Northern Technologies International (NASDAQ:NTIC) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Northern Technologies International (NASDAQ:NTIC) from a buy rating to a hold rating in a research report released on Wednesday.

Several other equities research analysts have also recently commented on the company. Northland Securities raised their target price on Northern Technologies International from $19.00 to $20.00 and gave the stock 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 Up 6.9 %

Shares of NTIC opened at $17.35 on Wednesday. The firm’s fifty day simple moving average is $13.86 and its two-hundred day simple moving average is $12.70. Northern Technologies International has a 12 month low of $10.08 and a 12 month high of $17.55. The stock has a market capitalization of $163.61 million, a P/E ratio of 33.37 and a beta of 0.73.

Northern Technologies International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.07 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.61%. Northern Technologies International’s dividend payout ratio (DPR) is presently 53.85%.

Hedge Funds Weigh In On Northern Technologies International

Large investors have recently modified their holdings of the company. Ballast Asset Management LP bought a new position in Northern Technologies International in the 3rd quarter valued at about $2,911,000. Penn Mutual Asset Management LLC purchased a new stake in shares of Northern Technologies International during the 3rd quarter valued at $227,000. Sheets Smith Wealth Management boosted its holdings in shares of 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 buying an additional 11,877 shares during the last quarter. Connors Investor Services Inc. bought a new position in Northern Technologies International during the third quarter valued at about $139,000. Finally, Victory Capital Management Inc. purchased a new stake in Northern Technologies International during the fourth quarter worth about $83,000. 32.88% of the stock is currently owned by institutional investors.

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.