Northern Technologies International Co. to Issue Quarterly Dividend of $0.07 (NASDAQ:NTIC)

Northern Technologies International Co. (NASDAQ:NTIC) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders 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 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, April 30th.

Northern Technologies International has increased its dividend by an average of 62.7% annually 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. 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 Trading Down 0.3 %

Shares of NTIC stock opened at $15.43 on Friday. Northern Technologies International has a 12 month low of $10.08 and a 12 month high of $15.96. The firm’s 50 day moving average is $13.63 and its 200 day moving average is $12.61. The stock has a market capitalization of $145.50 million, a P/E ratio of 29.67 and a beta of 0.73.

Institutional Investors Weigh In On Northern Technologies International

Several large investors have recently added to or reduced their stakes in NTIC. Vanguard Group Inc. boosted its position in shares of Northern Technologies International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 432,959 shares of the specialty chemicals company’s stock valued at $5,105,000 after acquiring an additional 1,801 shares during the last quarter. Meros Investment Management LP lifted its position in Northern Technologies International by 1.2% during the fourth quarter. Meros Investment Management LP now owns 214,713 shares of the specialty chemicals company’s stock valued at $2,531,000 after purchasing an additional 2,648 shares during the last quarter. Needham Investment Management LLC lifted its stake in Northern Technologies International by 50.2% during the fourth quarter. Needham Investment Management LLC now owns 260,000 shares of the specialty chemicals company’s stock worth $3,063,000 after purchasing an additional 86,952 shares during the last quarter. Stifel Financial Corp grew its position in Northern Technologies International by 5.2% during the fourth quarter. Stifel Financial Corp now owns 26,032 shares of the specialty chemicals company’s stock valued at $307,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Northern Technologies International by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 336,954 shares of the specialty chemicals company’s stock worth $3,969,000 after acquiring an additional 2,903 shares in the last quarter. Institutional investors own 32.88% of the company’s stock.

Analysts Set New Price Targets

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

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.