Meros Investment Management LP Increases Stock Position in Northern Technologies International Co. (NASDAQ:NTIC)

Meros Investment Management LP raised its position in Northern Technologies International Co. (NASDAQ:NTIC) by 25.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,510 shares of the specialty chemicals company’s stock after acquiring an additional 54,209 shares during the quarter. Northern Technologies International makes up 2.1% of Meros Investment Management LP’s investment portfolio, making the stock its 20th largest position. Meros Investment Management LP’s holdings in Northern Technologies International were worth $4,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTIC. Rhumbline Advisers bought a new stake in shares of Northern Technologies International in the second quarter worth about $114,000. Panagora Asset Management Inc. purchased a new stake in Northern Technologies International in the 2nd quarter worth approximately $175,000. Ritholtz Wealth Management bought a new stake in shares of Northern Technologies International in the 2nd quarter worth approximately $251,000. Bank of New York Mellon Corp purchased a new position in shares of Northern Technologies International during the second quarter valued at approximately $341,000. Finally, Penn Mutual Asset Management LLC increased its stake in shares of Northern Technologies International by 40.8% during the fourth quarter. Penn Mutual Asset Management LLC now owns 23,860 shares of the specialty chemicals company’s stock valued at $281,000 after buying an additional 6,910 shares during the period. 32.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTIC. Northland Securities reiterated an “outperform” rating and issued a $20.00 price target on shares of Northern Technologies International in a report on Friday, July 12th. StockNews.com cut shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th.

Northern Technologies International Stock Performance

Shares of NASDAQ:NTIC opened at $12.32 on Friday. Northern Technologies International Co. has a 52-week low of $10.08 and a 52-week high of $19.63. The firm has a market capitalization of $116.15 million, a P/E ratio of 26.78 and a beta of 0.62. The stock has a 50 day moving average price of $12.78 and a 200-day moving average price of $14.85.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings data on Thursday, July 11th. The specialty chemicals company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $23.00 million. Northern Technologies International had a net margin of 5.48% and a return on equity of 5.83%. During the same period in the prior year, the business posted $0.17 EPS. On average, equities analysts forecast that Northern Technologies International Co. will post 0.58 EPS for the current fiscal year.

Northern Technologies International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, July 31st. Northern Technologies International’s dividend payout ratio (DPR) is presently 60.87%.

Northern Technologies International 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.