Northern Technologies International (NASDAQ:NTIC) Downgraded by StockNews.com

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

A number of other brokerages also recently commented on NTIC. Northland Securities lifted their price objective on Northern Technologies International from $19.00 to $20.00 and gave the stock an outperform rating in a research report on Friday, April 12th. TheStreet upgraded Northern Technologies International from a c+ rating to a b- rating in a research report on Tuesday, February 27th.

Northern Technologies International Price Performance

Shares of NASDAQ:NTIC opened at $17.31 on Wednesday. The business’s 50 day moving average price is $13.99 and its 200-day moving average price is $12.76. The firm has a market capitalization of $163.23 million, a PE ratio of 33.29 and a beta of 0.73. Northern Technologies International has a 1 year low of $10.08 and a 1 year high of $17.55.

Northern Technologies International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.62%. Northern Technologies International’s dividend payout ratio is currently 53.85%.

Institutional Trading of Northern Technologies International

Several institutional investors and hedge funds have recently made changes to their positions in NTIC. Ballast Asset Management LP purchased a new stake in shares of Northern Technologies International in the 3rd quarter valued at about $2,911,000. Penn Mutual Asset Management LLC purchased a new stake in Northern Technologies International during the 3rd quarter valued at approximately $227,000. Sheets Smith Wealth Management raised its stake in Northern Technologies International by 27.3% during the 4th quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock valued at $652,000 after acquiring an additional 11,877 shares during the last quarter. Connors Investor Services Inc. purchased a new stake in Northern Technologies International during the 3rd quarter valued at approximately $139,000. Finally, Victory Capital Management Inc. purchased a new stake in Northern Technologies International during the 4th quarter valued at approximately $83,000. 32.88% of the stock is owned by hedge funds and other institutional investors.

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.