Rhumbline Advisers purchased a new position in shares of Northern Technologies International Co. (NASDAQ:NTIC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,891 shares of the specialty chemicals company’s stock, valued at approximately $114,000.
Several other hedge funds and other institutional investors have also bought and sold shares of NTIC. Panagora Asset Management Inc. acquired a new stake in Northern Technologies International during the second quarter worth approximately $175,000. Ritholtz Wealth Management bought a new position in Northern Technologies International in the second quarter valued at approximately $251,000. Penn Mutual Asset Management LLC boosted its stake in shares of Northern Technologies International by 40.8% in the 4th quarter. Penn Mutual Asset Management LLC now owns 23,860 shares of the specialty chemicals company’s stock valued at $281,000 after purchasing an additional 6,910 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Northern Technologies International in the 2nd quarter worth about $341,000. Finally, Dynamic Advisor Solutions LLC grew its holdings in Northern Technologies International by 13.9% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 30,445 shares of the specialty chemicals company’s stock worth $504,000 after acquiring an additional 3,721 shares during the last quarter. Institutional investors and hedge funds own 32.88% of the company’s stock.
Northern Technologies International Stock Performance
NASDAQ NTIC opened at $12.29 on Tuesday. The company has a 50-day simple moving average of $12.76 and a 200 day simple moving average of $14.85. Northern Technologies International Co. has a 52-week low of $10.08 and a 52-week high of $19.63. The company has a market capitalization of $115.87 million, a PE ratio of 26.54 and a beta of 0.62.
Northern Technologies International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Wednesday, July 31st. Northern Technologies International’s payout ratio is 60.87%.
Wall Street Analysts Forecast Growth
NTIC has been the topic of several analyst reports. Northland Securities reiterated an “outperform” rating and issued a $20.00 target price on shares of Northern Technologies International in a report on Friday, July 12th. StockNews.com downgraded shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th.
Read Our Latest Analysis on Northern Technologies International
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.
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