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

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.07 per share by the specialty chemicals company on Wednesday, May 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 30th.

Northern Technologies International has increased its dividend payment by an average of 62.7% per year over the last three years. Northern Technologies International has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:NTIC opened at $15.48 on Thursday. The firm has a market cap of $145.98 million, a PE ratio of 29.77 and a beta of 0.73. The company has a 50-day moving average of $13.54 and a 200 day moving average of $12.57. Northern Technologies International has a 1-year low of $10.08 and a 1-year high of $15.96.

Institutional Investors Weigh In On Northern Technologies International

A number of institutional investors and hedge funds have recently modified their holdings of NTIC. UBS Group AG purchased a new position in shares of Northern Technologies International during the first quarter worth $30,000. Tower Research Capital LLC TRC acquired a new position in Northern Technologies International during the third quarter worth about $34,000. Salem Investment Counselors Inc. grew its stake in Northern Technologies International by 234.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 3,708 shares of the specialty chemicals company’s stock valued at $35,000 after acquiring an additional 2,600 shares in the last quarter. GTS Securities LLC acquired a new stake in Northern Technologies International in the 2nd quarter valued at about $120,000. Finally, State Street Corp lifted its position in Northern Technologies International by 15.0% during the first quarter. State Street Corp now owns 19,227 shares of the specialty chemicals company’s stock worth $231,000 after buying an additional 2,512 shares in the last quarter. Institutional investors and hedge funds own 32.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.