Northern Technologies International Co. (NTIC) To Go Ex-Dividend on April 30th

Northern Technologies International Co. (NASDAQ:NTIC) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.07 per share by the specialty chemicals company on Wednesday, May 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 30th.

Northern Technologies International has increased its dividend payment by an average of 62.7% per year over the last three years. Northern Technologies International has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northern Technologies International to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 28.0%.

Northern Technologies International Price Performance

Northern Technologies International stock opened at $15.43 on Friday. The firm has a market capitalization of $145.50 million, a price-to-earnings ratio of 29.67 and a beta of 0.73. The company’s 50 day simple moving average is $13.63 and its 200 day simple moving average is $12.61. Northern Technologies International has a fifty-two week low of $10.08 and a fifty-two week high of $15.96.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NTIC. TheStreet raised shares of Northern Technologies International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. StockNews.com upgraded Northern Technologies International from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, Northland Securities boosted their target price on Northern Technologies International from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, April 12th.

Institutional Investors Weigh In On Northern Technologies International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in Northern Technologies International by 6.9% during the second quarter. Stifel Financial Corp now owns 30,610 shares of the specialty chemicals company’s stock worth $328,000 after buying an additional 1,966 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Northern Technologies International during the 2nd quarter worth approximately $528,000. Renaissance Technologies LLC increased its holdings in shares of Northern Technologies International by 9.9% during the 2nd quarter. Renaissance Technologies LLC now owns 95,677 shares of the specialty chemicals company’s stock worth $1,025,000 after acquiring an additional 8,600 shares during the last quarter. BlackRock Inc. raised its stake in Northern Technologies International by 8.2% in the 2nd quarter. BlackRock Inc. now owns 31,947 shares of the specialty chemicals company’s stock valued at $342,000 after acquiring an additional 2,418 shares during the period. Finally, Geode Capital Management LLC raised its stake in Northern Technologies International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 64,838 shares of the specialty chemicals company’s stock valued at $694,000 after acquiring an additional 1,119 shares during the period. Institutional investors own 32.88% of the company’s stock.

Northern Technologies International Company Profile

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.