Northern Technologies International Co. (NASDAQ:NTIC) Declares $0.07 Quarterly Dividend

Northern Technologies International Co. (NASDAQ:NTIC) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Wednesday, May 1st will be given 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 yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 30th.

Northern Technologies International has raised its dividend payment by an average of 62.7% per year over the last three years. Northern Technologies International has a dividend payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 4.0 %

NTIC opened at $15.48 on Thursday. The company has a market cap of $145.98 million, a P/E ratio of 29.77 and a beta of 0.73. Northern Technologies International has a 52-week low of $10.08 and a 52-week high of $15.96. The company has a 50 day moving average of $13.54 and a two-hundred day moving average of $12.57.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Northern Technologies International

Several large investors have recently made changes to their positions in NTIC. Needham Investment Management LLC boosted its position in shares of Northern Technologies International by 50.2% during the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the specialty chemicals company’s stock valued at $3,063,000 after purchasing an additional 86,952 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Northern Technologies International in the second quarter worth about $528,000. Vanguard Group Inc. boosted its holdings in shares of Northern Technologies International by 5.5% in the third quarter. Vanguard Group Inc. now owns 431,158 shares of the specialty chemicals company’s stock worth $5,765,000 after buying an additional 22,500 shares during the period. Meros Investment Management LP boosted its holdings in shares of Northern Technologies International by 7.3% in the first quarter. Meros Investment Management LP now owns 206,479 shares of the specialty chemicals company’s stock worth $2,481,000 after buying an additional 14,119 shares during the period. Finally, RBF Capital LLC boosted its holdings in shares of Northern Technologies International by 99.9% in the first quarter. RBF Capital LLC now owns 27,200 shares of the specialty chemicals company’s stock worth $325,000 after buying an additional 13,592 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.