Punch & Associates Investment Management Inc. Trims Position in Northern Technologies International Corporation $NTIC

Key Points

• Punch & Associates Investment Management Inc. sold 149,924 shares of Northern Technologies International Corporation, reducing its ownership by 60.6% during Q1, leaving it with approximately 97,452 shares valued at $1,014,000.
• Institutional investors collectively own 32.88% of Northern Technologies' stock, with notable increases in holdings by Wells Fargo, Bank of America, and other firms during the previous quarters.
• Northern Technologies reported earnings of $0.02 per share for its latest quarter, missing analysts' expectations, but had a revenue of $21.51 million, exceeding the consensus estimate.

Punch & Associates Investment Management Inc. lowered its stake in shares of Northern Technologies International Corporation (NASDAQ:NTIC - Free Report) by 60.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,452 shares of the specialty chemicals company's stock after selling 149,924 shares during the period. Punch & Associates Investment Management Inc. owned about 1.03% of Northern Technologies International worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NTIC. Wells Fargo & Company MN boosted its holdings in Northern Technologies International by 51.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,677 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 1,254 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Technologies International by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 341,596 shares of the specialty chemicals company's stock valued at $4,608,000 after purchasing an additional 2,569 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Northern Technologies International by 4.0% in the fourth quarter. Northern Trust Corp now owns 62,565 shares of the specialty chemicals company's stock valued at $844,000 after purchasing an additional 2,420 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Northern Technologies International by 17.7% in the fourth quarter. Bank of America Corp DE now owns 12,089 shares of the specialty chemicals company's stock valued at $163,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Needham Investment Management LLC lifted its holdings in shares of Northern Technologies International by 0.6% in the fourth quarter. Needham Investment Management LLC now owns 525,500 shares of the specialty chemicals company's stock valued at $7,089,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 32.88% of the company's stock.

Northern Technologies International Price Performance

Shares of NASDAQ NTIC traded up $0.01 on Friday, hitting $7.90. The company's stock had a trading volume of 2,158 shares, compared to its average volume of 32,637. Northern Technologies International Corporation has a 12-month low of $6.75 and a 12-month high of $15.09. The company has a market capitalization of $74.80 million, a price-to-earnings ratio of 26.32 and a beta of 0.30. The stock has a 50 day moving average of $7.76 and a 200-day moving average of $8.31.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Northern Technologies International had a net margin of 3.46% and a return on equity of 3.38%. The business had revenue of $21.51 million during the quarter, compared to analysts' expectations of $20.70 million. During the same period last year, the company earned $0.11 EPS. Sell-side analysts expect that Northern Technologies International Corporation will post 0.56 EPS for the current fiscal year.

Northern Technologies International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Wednesday, July 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 30th. Northern Technologies International's dividend payout ratio is 13.33%.

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.