Short Interest in Northern Technologies International Corporation (NASDAQ:NTIC) Decreases By 32.9%

Key Points

• Short interest in Northern Technologies International Corporation decreased by 32.9% in August, totaling 30,600 shares, which is just 0.4% of the company's stock.
• Institutional investors have adjusted their stakes, with Wells Fargo & Company increasing its holdings by 51.8% while a total of 32.88% of the stock is currently owned by institutional investors.
• Northern Technologies reported a $0.02 earnings per share for the last quarter, missing estimates, and also announced a quarterly dividend of $0.01 per share.

Northern Technologies International Corporation (NASDAQ:NTIC - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 30,600 shares, adeclineof32.9% from the July 31st total of 45,600 shares. Currently,0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 44,700 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 44,700 shares, the short-interest ratio is presently 0.7 days. Currently,0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Northern Technologies International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake 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 valued at $50,000 after acquiring an additional 1,254 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 valued at $4,608,000 after acquiring an additional 2,569 shares during the last quarter. Northern Trust Corp lifted its stake 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 valued at $844,000 after acquiring an additional 2,420 shares during the last quarter. Bank of America Corp DE lifted its stake 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 valued at $163,000 after acquiring an additional 1,817 shares during the last quarter. Finally, Needham Investment Management LLC lifted its stake 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 valued at $7,089,000 after acquiring an additional 3,000 shares during the last quarter. 32.88% of the stock is currently owned by institutional investors.

Northern Technologies International Stock Performance

Shares of NTIC stock traded up $0.05 during trading on Friday, hitting $7.74. The company had a trading volume of 9,057 shares, compared to its average volume of 20,409. The stock's 50-day moving average price is $7.77 and its 200 day moving average price is $8.38. Northern Technologies International has a one year low of $6.75 and a one year high of $15.09. The firm has a market capitalization of $73.30 million, a P/E ratio of 25.80 and a beta of 0.30.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last released its earnings results on Thursday, July 10th. The specialty chemicals company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Northern Technologies International had a return on equity of 3.38% and a net margin of 3.46%.The business had revenue of $21.51 million for the quarter, compared to the consensus estimate of $20.70 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. On average, research analysts anticipate that Northern Technologies International will post 0.56 earnings per share for the current fiscal year.

Northern Technologies International Announces Dividend

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

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.

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