Meros Investment Management LP Has $4.46 Million Holdings in Northern Technologies International Co. (NASDAQ:NTIC)

Meros Investment Management LP raised its stake in shares of Northern Technologies International Co. (NASDAQ:NTIC) by 25.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 269,510 shares of the specialty chemicals company’s stock after purchasing an additional 54,209 shares during the period. Northern Technologies International accounts for approximately 2.1% of Meros Investment Management LP’s investment portfolio, making the stock its 20th biggest position. Meros Investment Management LP owned approximately 2.86% of Northern Technologies International worth $4,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers bought a new stake in shares of Northern Technologies International in the 2nd quarter valued at $114,000. Panagora Asset Management Inc. bought a new stake in shares of Northern Technologies International during the 2nd quarter valued at about $175,000. Ritholtz Wealth Management acquired a new stake in shares of Northern Technologies International during the 2nd quarter worth approximately $251,000. Bank of New York Mellon Corp acquired a new stake in Northern Technologies International in the second quarter worth $341,000. Finally, Penn Mutual Asset Management LLC grew its stake in shares of Northern Technologies International by 40.8% in the 4th 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 period. 32.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NTIC. Northland Securities reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Northern Technologies International in a research note on Friday, July 12th. StockNews.com lowered Northern Technologies International from a “buy” rating to a “hold” rating in a report on Thursday, July 11th.

Northern Technologies International Price Performance

NASDAQ:NTIC opened at $12.32 on Friday. Northern Technologies International Co. has a 1 year low of $10.08 and a 1 year high of $19.63. The business has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $14.85. The company has a market capitalization of $116.15 million, a P/E ratio of 26.78 and a beta of 0.62.

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

Northern Technologies International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, July 31st. Northern Technologies International’s dividend payout ratio (DPR) is presently 60.87%.

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.