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

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 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 dividend yield of 1.81%. The ex-dividend date is Tuesday, April 30th.

Northern Technologies International has increased its dividend payment by an average of 62.7% annually over the last three years. Northern Technologies International has a payout ratio of 29.5% meaning 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 Price Performance

Shares of NASDAQ:NTIC opened at $15.48 on Thursday. Northern Technologies International has a one year low of $10.08 and a one year high of $15.96. The company has a market cap of $145.98 million, a price-to-earnings ratio of 29.77 and a beta of 0.73. The firm has a 50 day simple moving average of $13.54 and a 200 day simple moving average of $12.57.

Hedge Funds Weigh In On Northern Technologies International

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Northern Technologies International by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 63,719 shares of the specialty chemicals company’s stock worth $848,000 after purchasing an additional 977 shares during the last quarter. Stifel Financial Corp boosted its holdings in Northern Technologies International by 5.2% in 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. Vanguard Group Inc. increased its position in 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 purchasing an additional 1,801 shares during the period. BlackRock Inc. increased its position in Northern Technologies International by 8.2% during the 2nd quarter. BlackRock Inc. now owns 31,947 shares of the specialty chemicals company’s stock valued at $342,000 after purchasing an additional 2,418 shares during the period. Finally, UBS Group AG acquired a new position in shares of Northern Technologies International in the 1st quarter worth approximately $30,000. Institutional investors own 32.88% of the company’s stock.

Analyst Ratings Changes

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

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.