Short Interest in Northern Technologies International Co. (NASDAQ:NTIC) Drops By 21.0%

Northern Technologies International Co. (NASDAQ:NTIC) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 114,300 shares, a decline of 21.0% from the October 31st total of 144,700 shares. Based on an average trading volume of 16,800 shares, the short-interest ratio is presently 6.8 days. Approximately 1.5% of the shares of the stock are short sold.

Northern Technologies International Stock Performance

NTIC traded up $0.38 during trading on Friday, reaching $13.92. The stock had a trading volume of 6,181 shares, compared to its average volume of 17,329. The business has a 50-day moving average of $12.83 and a 200-day moving average of $14.14. Northern Technologies International has a one year low of $10.08 and a one year high of $19.63. The stock has a market cap of $131.82 million, a PE ratio of 25.31 and a beta of 0.60.

Northern Technologies International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.01%. Northern Technologies International’s dividend payout ratio is 50.91%.

Institutional Trading of Northern Technologies International

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of Northern Technologies International during the second quarter worth approximately $114,000. BNP Paribas Financial Markets grew its holdings in shares of Northern Technologies International by 392.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,962 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 11,128 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Northern Technologies International during the 2nd quarter valued at $175,000. Barclays PLC raised its position in Northern Technologies International by 78.4% in the 3rd quarter. Barclays PLC now owns 14,864 shares of the specialty chemicals company’s stock worth $182,000 after purchasing an additional 6,533 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in Northern Technologies International in the second quarter worth $251,000. Institutional investors own 32.88% of the company’s stock.

About Northern Technologies International

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.