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

Perritt Capital Management Inc. cut its holdings in shares of Northern Technologies International Co. (NASDAQ:NTIC) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,899 shares of the specialty chemicals company’s stock after selling 7,591 shares during the period. Northern Technologies International makes up 2.3% of Perritt Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Perritt Capital Management Inc.’s holdings in Northern Technologies International were worth $6,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTIC. Bremer Bank National Association bought a new stake in Northern Technologies International in the 1st quarter worth about $26,000. Marshall Wace LLP bought a new position in Northern Technologies International during the 1st quarter valued at about $98,000. Bank of America Corp DE bought a new position in Northern Technologies International during the 4th quarter valued at about $204,000. Alambic Investment Management L.P. purchased a new stake in shares of Northern Technologies International during the 1st quarter valued at about $266,000. Finally, Granite Investment Partners LLC boosted its holdings in shares of Northern Technologies International by 100.0% during the 2nd quarter. Granite Investment Partners LLC now owns 71,914 shares of the specialty chemicals company’s stock valued at $879,000 after acquiring an additional 35,957 shares during the last quarter. Institutional investors own 16.40% of the company’s stock.

Separately, ValuEngine raised shares of Northern Technologies International from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

NTIC stock traded up $0.16 on Wednesday, hitting $11.60. The company had a trading volume of 2,031 shares, compared to its average volume of 8,160. Northern Technologies International Co. has a 12-month low of $10.02 and a 12-month high of $17.97. The stock has a market cap of $104.54 million, a price-to-earnings ratio of 16.34 and a beta of 0.97. The stock’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $21.12.

Northern Technologies International (NASDAQ:NTIC) last announced its earnings results on Tuesday, July 9th. The specialty chemicals company reported $0.16 earnings per share for the quarter. The business had revenue of $14.89 million during the quarter. Northern Technologies International had a net margin of 11.44% and a return on equity of 11.30%. Analysts anticipate that Northern Technologies International Co. will post 0.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, August 6th. Northern Technologies International’s payout ratio is currently 33.80%.

Northern Technologies International Company Profile

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services to automotive, electronics, electrical, mechanical, military, retail consumer, and oil and gas markets. 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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Institutional Ownership by Quarter for Northern Technologies International (NASDAQ:NTIC)

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