Northern Technologies International Corporation $NTIC Position Trimmed by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its holdings in shares of Northern Technologies International Corporation (NASDAQ:NTIC) by 15.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,272 shares of the specialty chemicals company’s stock after selling 2,748 shares during the period. Goldman Sachs Group Inc. owned about 0.16% of Northern Technologies International worth $159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Northern Technologies International in the 1st quarter worth approximately $109,000. Bank of America Corp DE lifted its stake in shares of Northern Technologies International by 17.7% in the 4th quarter. Bank of America Corp DE now owns 12,089 shares of the specialty chemicals company’s stock valued at $163,000 after purchasing an additional 1,817 shares during the last quarter. Private Advisor Group LLC bought a new position in Northern Technologies International in the 1st quarter worth $130,000. Navellier & Associates Inc. raised its holdings in Northern Technologies International by 150.0% in the 1st quarter. Navellier & Associates Inc. now owns 25,000 shares of the specialty chemicals company’s stock worth $260,000 after acquiring an additional 15,000 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its holdings in Northern Technologies International by 9.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 57,719 shares of the specialty chemicals company’s stock worth $601,000 after acquiring an additional 5,039 shares during the period. Institutional investors and hedge funds own 32.88% of the company’s stock.

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 report on Saturday, September 13th.

Northern Technologies International Stock Down 2.6%

NASDAQ:NTIC opened at $7.60 on Tuesday. The firm has a market cap of $72.00 million, a PE ratio of 25.33 and a beta of 0.30. Northern Technologies International Corporation has a 12 month low of $6.75 and a 12 month high of $15.09. The company’s 50-day moving average price is $7.65 and its two-hundred day moving average price is $7.97.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings results on Thursday, July 10th. The specialty chemicals company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $21.51 million during the quarter, compared to analyst estimates of $20.70 million. Northern Technologies International had a net margin of 3.46% and a return on equity of 3.38%. During the same quarter last year, the firm earned $0.11 earnings per share. On average, research analysts expect that Northern Technologies International Corporation will post 0.56 EPS for the current fiscal year.

Northern Technologies International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Wednesday, July 30th were given a $0.01 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. Northern Technologies International’s payout ratio is 13.33%.

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.