Wall Street Zen Upgrades Northern Technologies International (NASDAQ:NTIC) to Hold

Key Points

• Northern Technologies International (NASDAQ:NTIC) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen in a recent research report.
• The company reported $0.02 earnings per share for the last quarter, missing the consensus estimate of $0.04, while revenue was reported at $21.51 million, exceeding expectations.
• In institutional trading, Osaic Holdings Inc. increased its stake by 1,124.1% during the second quarter, highlighting significant investor interest in NTIC.

Wall Street Zen upgraded shares of Northern Technologies International (NASDAQ:NTIC - Free Report) from a sell rating to a hold rating in a report published on Saturday.

Northern Technologies International Price Performance

NASDAQ NTIC traded up $0.14 on Friday, reaching $7.84. The company had a trading volume of 26,566 shares, compared to its average volume of 14,811. The firm has a market cap of $74.24 million, a price-to-earnings ratio of 26.13 and a beta of 0.30. Northern Technologies International has a fifty-two week low of $6.75 and a fifty-two week high of $15.09. The business has a 50 day moving average of $7.71 and a two-hundred day moving average of $8.19.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $0.02 earnings per share 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 analyst estimates of $20.70 million. Northern Technologies International had a net margin of 3.46% and a return on equity of 3.38%. During the same quarter in the previous year, the company earned $0.11 earnings per share. As a group, research analysts predict that Northern Technologies International will post 0.56 earnings per share for the current fiscal year.

Northern Technologies International Dividend Announcement

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

Institutional Trading of Northern Technologies International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its holdings in Northern Technologies International by 1,124.1% in the second quarter. Osaic Holdings Inc. now owns 3,501 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 3,215 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Northern Technologies International in the 2nd quarter worth about $88,000. Nuveen LLC bought a new position in shares of Northern Technologies International in the 1st quarter worth about $109,000. Private Advisor Group LLC bought a new position in shares of Northern Technologies International in the 1st quarter worth about $130,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Northern Technologies International in the 2nd quarter worth about $130,000. 32.88% of the stock is currently owned by institutional investors and hedge funds.

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.