Punch & Associates Investment Management Inc. Sells 149,924 Shares of 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. lessened its position in shares of Northern Technologies International Corporation (NASDAQ:NTIC - Free Report) by 60.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 approximately 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 hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in Northern Technologies International by 51.8% during the 4th quarter. Wells Fargo & Company MN now owns 3,677 shares of the specialty chemicals company's stock worth $50,000 after acquiring an additional 1,254 shares during the period. Bank of America Corp DE increased its holdings in shares of Northern Technologies International by 17.7% in the 4th quarter. Bank of America Corp DE now owns 12,089 shares of the specialty chemicals company's stock worth $163,000 after buying an additional 1,817 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Northern Technologies International by 4.0% in the 4th quarter. Northern Trust Corp now owns 62,565 shares of the specialty chemicals company's stock worth $844,000 after buying an additional 2,420 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Technologies International by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 341,596 shares of the specialty chemicals company's stock worth $4,608,000 after buying an additional 2,569 shares during the last quarter. Finally, Needham Investment Management LLC increased its holdings in shares of Northern Technologies International by 0.6% in the 4th quarter. Needham Investment Management LLC now owns 525,500 shares of the specialty chemicals company's stock worth $7,089,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 32.88% of the company's stock.

Northern Technologies International Price Performance

Shares of NASDAQ:NTIC opened at $7.74 on Friday. The company's fifty day moving average price is $7.77 and its 200-day moving average price is $8.38. The firm has a market capitalization of $73.30 million, a price-to-earnings ratio of 25.80 and a beta of 0.30. Northern Technologies International Corporation has a one year low of $6.75 and a one year high of $15.09.

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

Northern Technologies International Dividend Announcement

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

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