Renaissance Technologies LLC Increases Position in Northern Technologies International Co. (NASDAQ:NTIC)

Renaissance Technologies LLC increased its holdings in shares of Northern Technologies International Co. (NASDAQ:NTIC) by 32.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,077 shares of the specialty chemicals company’s stock after buying an additional 33,000 shares during the quarter. Renaissance Technologies LLC owned 1.43% of Northern Technologies International worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTIC. Panagora Asset Management Inc. purchased a new position in shares of Northern Technologies International in the 2nd quarter valued at about $175,000. Dynamic Advisor Solutions LLC raised its stake in shares of Northern Technologies International by 13.9% in the second quarter. Dynamic Advisor Solutions LLC now owns 30,445 shares of the specialty chemicals company’s stock valued at $504,000 after acquiring an additional 3,721 shares in the last quarter. Penn Mutual Asset Management LLC increased its holdings in Northern Technologies International by 40.8% in the fourth quarter. Penn Mutual Asset Management LLC now owns 23,860 shares of the specialty chemicals company’s stock valued at $281,000 after buying an additional 6,910 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of Northern Technologies International during the second quarter worth about $251,000. Finally, Rhumbline Advisers acquired a new stake in shares of Northern Technologies International during the second quarter worth about $114,000. Institutional investors and hedge funds own 32.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Northern Technologies International Price Performance

Shares of NTIC stock opened at $11.94 on Thursday. The company’s fifty day moving average price is $12.71 and its two-hundred day moving average price is $14.82. The firm has a market capitalization of $112.57 million, a P/E ratio of 26.33 and a beta of 0.62. Northern Technologies International Co. has a 12 month low of $10.08 and a 12 month high of $19.63.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings data on Thursday, July 11th. The specialty chemicals company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Northern Technologies International had a net margin of 5.48% and a return on equity of 5.83%. The business had revenue of $20.69 million for the quarter, compared to the consensus estimate of $23.00 million. During the same period in the prior year, the company earned $0.17 EPS. On average, sell-side analysts anticipate that Northern Technologies International Co. will post 0.58 EPS for the current year.

Northern Technologies International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, July 31st. Northern Technologies International’s dividend payout ratio is currently 60.87%.

Northern Technologies International 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.