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Short Interest in Northern Technologies International Co. (NASDAQ:NTIC) Decreases By 42.6%

Northern Technologies International logo with Basic Materials background

Northern Technologies International Co. (NASDAQ:NTIC - Get Free Report) was the recipient of a large drop in short interest in May. As of May 31st, there was short interest totalling 16,600 shares, a drop of 42.6% from the May 15th total of 28,900 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 40,600 shares, the days-to-cover ratio is presently 0.4 days.

Northern Technologies International Trading Down 0.1 %

NTIC stock traded down $0.01 during mid-day trading on Thursday, reaching $17.64. The company's stock had a trading volume of 24,959 shares, compared to its average volume of 28,429. The stock has a market cap of $166.35 million, a PE ratio of 33.92 and a beta of 0.61. Northern Technologies International has a fifty-two week low of $10.08 and a fifty-two week high of $19.63. The company's 50 day moving average is $17.03 and its two-hundred day moving average is $14.16.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last released its quarterly earnings data on Thursday, April 11th. The specialty chemicals company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The company had revenue of $20.84 million during the quarter, compared to the consensus estimate of $21.20 million. Northern Technologies International had a net margin of 6.12% and a return on equity of 6.68%. On average, analysts forecast that Northern Technologies International will post 0.78 earnings per share for the current fiscal year.

Northern Technologies International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.59%. Northern Technologies International's dividend payout ratio is presently 53.85%.

Analyst Ratings Changes

NTIC has been the topic of a number of research reports. Northland Securities raised their price target on shares of Northern Technologies International from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, April 12th. TheStreet raised shares of Northern Technologies International from a "c+" rating to a "b-" rating in a research note on Tuesday, February 27th. Finally, StockNews.com raised shares of Northern Technologies International from a "hold" rating to a "buy" rating in a research note on Saturday, June 8th.


Read Our Latest Stock Analysis on Northern Technologies International

Hedge Funds Weigh In On Northern Technologies International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC boosted its position in Northern Technologies International by 10.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 26,724 shares of the specialty chemicals company's stock valued at $317,000 after buying an additional 2,634 shares during the period. Acadian Asset Management LLC boosted its position in Northern Technologies International by 30.6% in the 3rd quarter. Acadian Asset Management LLC now owns 20,116 shares of the specialty chemicals company's stock valued at $267,000 after buying an additional 4,712 shares during the period. Penn Mutual Asset Management LLC boosted its position in 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 buying an additional 6,910 shares during the period. Victory Capital Management Inc. purchased a new position in Northern Technologies International in the 4th quarter valued at approximately $83,000. Finally, Connors Investor Services Inc. purchased a new position in Northern Technologies International in the 3rd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 32.88% of the company's stock.

Northern Technologies International Company Profile

(Get Free Report)

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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