Y Intercept Hong Kong Ltd Buys New Stake in Northern Technologies International Corporation $NTIC

Y Intercept Hong Kong Ltd purchased a new position in shares of Northern Technologies International Corporation (NASDAQ:NTIC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,325 shares of the specialty chemicals company’s stock, valued at approximately $254,000. Y Intercept Hong Kong Ltd owned approximately 0.36% of Northern Technologies International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Sheets Smith Wealth Management raised its stake in shares of Northern Technologies International by 4.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 48,948 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 1,948 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Northern Technologies International by 5.2% during the first quarter. Diamond Hill Capital Management Inc. now owns 74,971 shares of the specialty chemicals company’s stock valued at $780,000 after purchasing an additional 3,713 shares in the last quarter. Nuveen LLC purchased a new position in Northern Technologies International during the first quarter valued at $109,000. Private Advisor Group LLC acquired a new stake in shares of Northern Technologies International in the first quarter valued at about $130,000. Finally, Navellier & Associates Inc. increased its stake in shares of Northern Technologies International by 150.0% during the first quarter. Navellier & Associates Inc. now owns 25,000 shares of the specialty chemicals company’s stock worth $260,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 32.88% of the company’s stock.

Northern Technologies International Stock Performance

NASDAQ:NTIC opened at $8.10 on Friday. The company has a market cap of $76.74 million, a P/E ratio of 27.00 and a beta of 0.29. Northern Technologies International Corporation has a twelve month low of $6.75 and a twelve month high of $15.09. The company’s 50-day moving average price is $7.74 and its 200-day moving average price is $7.63.

Northern Technologies International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, October 29th. Northern Technologies International’s payout ratio is currently 13.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTIC shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Northern Technologies International in a research note on Wednesday, October 8th. Wall Street Zen raised Northern Technologies International from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.