Bank of America Corp DE Raises Holdings in Northern Technologies International Co. (NASDAQ:NTIC)

Bank of America Corp DE lifted its position in shares of Northern Technologies International Co. (NASDAQ:NTIC) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,089 shares of the specialty chemicals company’s stock after purchasing an additional 1,817 shares during the period. Bank of America Corp DE owned about 0.13% of Northern Technologies International worth $163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Northern Technologies International by 471.6% during the fourth quarter. Bank of New York Mellon Corp now owns 86,434 shares of the specialty chemicals company’s stock worth $1,166,000 after buying an additional 71,312 shares during the period. JPMorgan Chase & Co. grew its position in shares of Northern Technologies International by 146.3% during the fourth quarter. JPMorgan Chase & Co. now owns 28,869 shares of the specialty chemicals company’s stock worth $389,000 after acquiring an additional 17,149 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Northern Technologies International in the 4th quarter valued at $139,000. Dimensional Fund Advisors LP raised its position in Northern Technologies International by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 341,596 shares of the specialty chemicals company’s stock valued at $4,608,000 after purchasing an additional 2,569 shares during the last quarter. Finally, Northern Trust Corp raised its position in Northern Technologies International by 4.0% in the 4th quarter. Northern Trust Corp now owns 62,565 shares of the specialty chemicals company’s stock valued at $844,000 after purchasing an additional 2,420 shares during the last quarter. 32.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Northern Technologies International from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th.

Northern Technologies International Stock Down 1.2%

Shares of NTIC stock opened at $7.17 on Monday. The stock’s 50-day moving average price is $7.43 and its 200 day moving average price is $10.51. The stock has a market capitalization of $67.93 million, a PE ratio of 13.79 and a beta of 0.29. Northern Technologies International Co. has a 52-week low of $6.75 and a 52-week high of $17.52.

Northern Technologies International (NASDAQ:NTIC) last released its earnings results on Thursday, April 10th. The specialty chemicals company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Northern Technologies International had a net margin of 5.89% and a return on equity of 7.48%. The company had revenue of $19.07 million during the quarter, compared to analyst estimates of $20.20 million. During the same period in the previous year, the firm posted $0.17 EPS. Analysts expect that Northern Technologies International Co. will post 0.56 earnings per share for the current fiscal year.

Northern Technologies International Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.56%. Northern Technologies International’s payout ratio is currently 10.26%.

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.