Northern Technologies International (NASDAQ:NTIC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Northern Technologies International (NASDAQ:NTIC) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Northern Technologies International Corporation (NTIC) develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over fifty countries. NTIC’s primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST and EXCOR rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets. The company’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC launched a new product line of compounds and finished products based on a portfolio of proprietary bio-plastic technologies under the Natur- Tec brand. NTIC also is in various stages of development with respect to several other emerging businesses. “

Separately, TheStreet raised shares of Northern Technologies International from a c+ rating to a b rating in a research report on Thursday, January 6th.

NASDAQ:NTIC opened at $13.35 on Wednesday. Northern Technologies International has a 52 week low of $12.50 and a 52 week high of $21.50. The firm has a 50 day moving average of $15.01 and a 200 day moving average of $16.61. The stock has a market capitalization of $122.82 million, a price-to-earnings ratio of 13.76 and a beta of 1.03.

Northern Technologies International (NASDAQ:NTIC) last posted its earnings results on Thursday, January 6th. The specialty chemicals company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). Northern Technologies International had a net margin of 15.37% and a return on equity of 8.82%. The firm had revenue of $18.19 million for the quarter, compared to analysts’ expectations of $16.90 million. During the same period in the previous year, the company earned $0.13 EPS. On average, equities analysts anticipate that Northern Technologies International will post 0.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 17th. Shareholders of record on Wednesday, November 3rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, November 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Northern Technologies International’s previous quarterly dividend of $0.07. Northern Technologies International’s dividend payout ratio (DPR) is currently 28.87%.

In related news, Director Sarah E. Kemp purchased 2,012 shares of the firm’s stock in a transaction on Wednesday, January 12th. The stock was acquired at an average price of $14.91 per share, with a total value of $29,998.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 20.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC increased its stake in shares of Northern Technologies International by 11.7% in the second quarter. Acuitas Investments LLC now owns 171,405 shares of the specialty chemicals company’s stock worth $2,965,000 after acquiring an additional 17,985 shares during the period. Manatuck Hill Partners LLC acquired a new stake in shares of Northern Technologies International in the second quarter worth $360,000. Claraphi Advisory Network LLC acquired a new stake in shares of Northern Technologies International in the second quarter worth $591,000. Barclays PLC increased its stake in shares of Northern Technologies International by 521.3% in the third quarter. Barclays PLC now owns 2,013 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,689 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Northern Technologies International in the third quarter worth $304,000. Hedge funds and other institutional investors own 35.51% of the company’s stock.

Northern Technologies International Company Profile

Northern Technologies International Corp. engages in the development and market of proprietary environmentally beneficial products and technical services. It operates through the Natur-Tec and Zerust segments. The Natur-Tec segment manufactures bio-degradable and bio-based plastics for industrial and consumer applications.

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