Needham Investment Management LLC Purchases 73,257 Shares of Northern Technologies International Corporation $NTIC

Needham Investment Management LLC lifted its position in shares of Northern Technologies International Corporation (NASDAQ:NTIC) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 713,257 shares of the specialty chemicals company’s stock after buying an additional 73,257 shares during the quarter. Needham Investment Management LLC owned about 0.08% of Northern Technologies International worth $5,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Peapod Lane Capital LLC grew its position in shares of Northern Technologies International by 64.6% during the 4th quarter. Peapod Lane Capital LLC now owns 142,621 shares of the specialty chemicals company’s stock worth $1,117,000 after purchasing an additional 55,987 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Northern Technologies International by 15.0% during the 4th quarter. Renaissance Technologies LLC now owns 126,377 shares of the specialty chemicals company’s stock valued at $990,000 after acquiring an additional 16,500 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Northern Technologies International by 274.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 65,581 shares of the specialty chemicals company’s stock worth $506,000 after purchasing an additional 48,047 shares during the period. Citadel Advisors LLC raised its stake in Northern Technologies International by 35.1% in the third quarter. Citadel Advisors LLC now owns 59,085 shares of the specialty chemicals company’s stock valued at $456,000 after purchasing an additional 15,351 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Northern Technologies International during the third quarter worth about $214,000. 32.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTIC. Weiss Ratings reiterated a “sell (d)” rating on shares of Northern Technologies International in a research note on Friday, March 27th. Zacks Research upgraded shares of Northern Technologies International from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Northern Technologies International Stock Performance

NASDAQ:NTIC opened at $8.02 on Tuesday. The stock’s 50-day moving average is $8.01 and its 200-day moving average is $8.29. Northern Technologies International Corporation has a 1-year low of $7.14 and a 1-year high of $10.03. The company has a current ratio of 1.81, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01. The stock has a market cap of $76.11 million, a P/E ratio of -100.25 and a beta of 0.19.

Northern Technologies International (NASDAQ:NTIC) last issued its quarterly earnings data on Thursday, April 9th. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Northern Technologies International had a negative net margin of 0.87% and a positive return on equity of 0.05%. The business had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.10 million. Equities research analysts anticipate that Northern Technologies International Corporation will post 0.15 earnings per share for the current year.

Northern Technologies International Company Profile

Northern Technologies International Corporation (NASDAQ: NTIC) is a Minnesota?based specialty chemical company that develops, manufactures and markets environmentally responsible corrosion prevention and metal surface treatment products. The company’s solutions include volatile corrosion inhibitor (VCI) films, emitters, powders and liquids designed to protect ferrous and non?ferrous metals in industrial, aerospace, defense, electronics and automotive applications. In addition, NTIC offers packaging materials, engineered coatings and specialty pretreatment chemicals that meet stringent environmental regulations while extending equipment life and reducing maintenance costs.

NTIC serves a diversified global customer base, including metal fabricators, automotive suppliers, electronics manufacturers and oil and gas producers.