Northern Technologies International (NASDAQ:NTIC) Share Price Crosses Above 200 Day Moving Average of $11.95

Posted by Defense World Staff on Aug 9th, 2023

Northern Technologies International Co. (NASDAQ:NTIC – Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.95 and traded as high as $13.71. Northern Technologies International shares last traded at $13.42, with a volume of 12,958 shares changing hands.

Analysts Set New Price Targets

NTIC has been the subject of a number of recent research reports. StockNews.com initiated coverage on Northern Technologies International in a research note on Wednesday. They issued a “hold” rating for the company. Northland Securities lowered their price target on Northern Technologies International from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, April 14th.

Get Our Latest Research Report on Northern Technologies International

Northern Technologies International Stock Performance

The business has a 50-day simple moving average of $11.61 and a 200 day simple moving average of $11.95. The firm has a market cap of $125.75 million, a P/E ratio of 36.27 and a beta of 0.85.

Northern Technologies International (NASDAQ:NTIC – Get Free Report) last posted its earnings results on Thursday, July 13th. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Northern Technologies International had a return on equity of 5.82% and a net margin of 4.48%. The firm had revenue of $20.97 million for the quarter, compared to analysts’ expectations of $20.60 million. On average, research analysts expect that Northern Technologies International Co. will post 0.51 EPS for the current year.

Northern Technologies International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.09%. Northern Technologies International’s dividend payout ratio (DPR) is 75.68%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its holdings in shares of Northern Technologies International by 77.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 23,180 shares of the specialty chemicals company’s stock worth $248,000 after acquiring an additional 10,145 shares during the period. RBF Capital LLC grew its stake in shares of Northern Technologies International by 99.9% in the 1st quarter. RBF Capital LLC now owns 27,200 shares of the specialty chemicals company’s stock worth $325,000 after buying an additional 13,592 shares during the last quarter. UBS Group AG purchased a new stake in shares of Northern Technologies International in the 1st quarter worth approximately $30,000. Diamond Hill Capital Management Inc. grew its stake in shares of Northern Technologies International by 34.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 34,000 shares of the specialty chemicals company’s stock worth $402,000 after buying an additional 8,699 shares during the last quarter. Finally, Institutional & Family Asset Management LLC grew its stake in shares of Northern Technologies International by 50.3% in the 1st quarter. Institutional & Family Asset Management LLC now owns 5,376 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 32.62% of the company’s stock.

About Northern Technologies International

(Get Free Report)

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services 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.