Short Interest in Northern Technologies International Co. (NASDAQ:NTIC) Increases By 392.6%

Northern Technologies International Co. (NASDAQ:NTIC) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 213,800 shares, a growth of 392.6% from the June 30th total of 43,400 shares. Based on an average daily trading volume, of 66,500 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Northern Technologies International

A number of large investors have recently added to or reduced their stakes in NTIC. Victory Capital Management Inc. bought a new position in Northern Technologies International in the fourth quarter worth about $83,000. Sheets Smith Wealth Management increased its holdings in shares of Northern Technologies International by 27.3% during the fourth quarter. Sheets Smith Wealth Management now owns 55,311 shares of the specialty chemicals company’s stock valued at $652,000 after acquiring an additional 11,877 shares in the last quarter. Penn Mutual Asset Management LLC raised its position in shares of 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 purchasing an additional 6,910 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Northern Technologies International by 13.9% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 30,445 shares of the specialty chemicals company’s stock valued at $504,000 after purchasing an additional 3,721 shares during the last quarter. 32.88% of the stock is currently owned by institutional investors.

Northern Technologies International Stock Up 0.6 %

NASDAQ:NTIC traded up $0.08 during mid-day trading on Thursday, reaching $13.46. The company’s stock had a trading volume of 46,066 shares, compared to its average volume of 40,104. Northern Technologies International has a 1 year low of $10.08 and a 1 year high of $19.63. The stock has a fifty day moving average of $16.43 and a 200-day moving average of $14.99. The firm has a market capitalization of $127.06 million, a PE ratio of 29.26 and a beta of 0.62.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings data on Thursday, July 11th. The specialty chemicals company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Northern Technologies International had a return on equity of 5.83% and a net margin of 5.48%. The business had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $23.00 million. During the same period last year, the company earned $0.17 earnings per share. On average, analysts expect that Northern Technologies International will post 0.58 earnings per share for the current year.

Northern Technologies International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%. Northern Technologies International’s dividend payout ratio is presently 60.87%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Northland Securities reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Northern Technologies International in a research note on Friday, July 12th. StockNews.com lowered shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th.

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.