Perritt Capital Management Inc. Lowers Holdings in Northern Technologies International Co. (NASDAQ:NTIC)

Perritt Capital Management Inc. cut its position in Northern Technologies International Co. (NASDAQ:NTIC) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,700 shares of the specialty chemicals company’s stock after selling 5,200 shares during the quarter. Northern Technologies International comprises 1.7% of Perritt Capital Management Inc.’s investment portfolio, making the stock its 14th biggest position. Perritt Capital Management Inc. owned about 2.72% of Northern Technologies International worth $3,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC raised its position in shares of Northern Technologies International by 30.6% during the 3rd quarter. Acadian Asset Management LLC now owns 20,116 shares of the specialty chemicals company’s stock valued at $267,000 after buying an additional 4,712 shares in the last quarter. Ballast Asset Management LP purchased a new stake in shares of Northern Technologies International during the 3rd quarter valued at $2,911,000. Penn Mutual Asset Management LLC purchased a new stake in shares of Northern Technologies International during the 3rd quarter valued at $227,000. Connors Investor Services Inc. purchased a new stake in shares of Northern Technologies International during the 3rd quarter valued at $139,000. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Northern Technologies International by 10.9% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 26,724 shares of the specialty chemicals company’s stock valued at $317,000 after buying an additional 2,634 shares in the last quarter. 32.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTIC has been the topic of a number of analyst reports. Northland Securities lifted their target price on shares of Northern Technologies International from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. StockNews.com upgraded shares of Northern Technologies International from a “hold” rating to a “buy” rating in a research report on Saturday, June 8th. Finally, TheStreet upgraded shares of Northern Technologies International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th.

Northern Technologies International Stock Down 0.9 %

Shares of Northern Technologies International stock opened at $17.49 on Friday. The firm has a market cap of $164.93 million, a PE ratio of 33.64 and a beta of 0.61. Northern Technologies International Co. has a 12-month low of $10.08 and a 12-month high of $19.63. The company’s fifty day simple moving average is $17.15 and its two-hundred day simple moving average is $14.21.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings results on Thursday, April 11th. The specialty chemicals company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $20.84 million for the quarter, compared to analyst estimates of $21.20 million. Northern Technologies International had a net margin of 6.12% and a return on equity of 6.68%. As a group, sell-side analysts expect that Northern Technologies International Co. will post 0.78 earnings per share for the current fiscal year.

Northern Technologies International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, April 30th. Northern Technologies International’s dividend payout ratio (DPR) is presently 53.85%.

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.