Short Interest in Northern Technologies International Co. (NASDAQ:NTIC) Drops By 21.6%

Northern Technologies International Co. (NASDAQ:NTIC - Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 142,300 shares, a decline of 21.6% from the April 30th total of 181,500 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 30,200 shares, the short-interest ratio is presently 4.7 days.

Northern Technologies International Trading Down 0.3%

Shares of NASDAQ:NTIC traded down $0.02 during mid-day trading on Thursday, reaching $7.27. The company had a trading volume of 12,678 shares, compared to its average volume of 30,497. The firm has a market cap of $68.88 million, a price-to-earnings ratio of 13.98 and a beta of 0.29. The company's 50-day moving average price is $7.81 and its 200-day moving average price is $10.86. Northern Technologies International has a one year low of $6.75 and a one year high of $18.79.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last posted its quarterly earnings results on Thursday, April 10th. The specialty chemicals company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.09). The company had revenue of $19.07 million during the quarter, compared to the consensus estimate of $20.20 million. Northern Technologies International had a return on equity of 7.48% and a net margin of 5.89%. During the same period last year, the firm posted $0.17 EPS. On average, research analysts anticipate that Northern Technologies International will post 0.56 EPS for the current fiscal year.

Northern Technologies International Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.01 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.55%. Northern Technologies International's dividend payout ratio (DPR) is presently 10.26%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Northern Technologies International from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th.

Institutional Investors Weigh In On Northern Technologies International

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Northern Technologies International by 51.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,677 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 1,254 shares during the period. Nuveen LLC bought a new stake in Northern Technologies International during the 1st quarter valued at $109,000. Private Advisor Group LLC bought a new stake in Northern Technologies International during the 1st quarter valued at $130,000. Manatuck Hill Partners LLC bought a new stake in Northern Technologies International during the 4th quarter valued at $139,000. Finally, JPMorgan Chase & Co. raised its holdings in Northern Technologies International by 98.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,720 shares of the specialty chemicals company's stock valued at $144,000 after acquiring an additional 5,828 shares during the period. Institutional investors own 32.88% of the company's stock.

Northern Technologies International Company Profile

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.