Dimensional Fund Advisors LP Purchases 11,746 Shares of Northern Technologies International Co. (NASDAQ:NTIC)

Dimensional Fund Advisors LP raised its position in Northern Technologies International Co. (NASDAQ:NTIC) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 348,700 shares of the specialty chemicals company’s stock after acquiring an additional 11,746 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.70% of Northern Technologies International worth $5,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in Northern Technologies International by 198.1% during the 2nd quarter. Acadian Asset Management LLC now owns 59,957 shares of the specialty chemicals company’s stock valued at $990,000 after purchasing an additional 39,841 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Northern Technologies International in the second quarter valued at $341,000. Ritholtz Wealth Management bought a new stake in Northern Technologies International in the second quarter valued at $251,000. Panagora Asset Management Inc. bought a new position in Northern Technologies International in the 2nd quarter worth $175,000. Finally, Rhumbline Advisers bought a new position in Northern Technologies International in the 2nd quarter worth $114,000. 32.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTIC has been the subject of a number of research reports. StockNews.com downgraded shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Northland Securities reissued an “outperform” rating and issued a $20.00 target price on shares of Northern Technologies International in a research report on Friday, July 12th.

Northern Technologies International Price Performance

Shares of NASDAQ NTIC opened at $12.21 on Wednesday. Northern Technologies International Co. has a 1 year low of $10.08 and a 1 year high of $19.63. The firm has a 50-day moving average of $12.58 and a 200 day moving average of $14.77. The stock has a market cap of $115.12 million, a P/E ratio of 26.54 and a beta of 0.61.

Northern Technologies International (NASDAQ:NTIC) last issued its quarterly earnings results on Thursday, July 11th. The specialty chemicals company reported $0.11 EPS 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 company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $23.00 million. During the same period in the prior year, the firm earned $0.17 earnings per share. Research analysts expect that Northern Technologies International Co. will post 0.58 earnings per share for the current fiscal year.

Northern Technologies International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 2.29%. Northern Technologies International’s payout ratio is presently 60.87%.

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.