Northern Technologies International Co. (NASDAQ:NTIC) Short Interest Update

Northern Technologies International Co. (NASDAQ:NTIC) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 114,300 shares, a drop of 21.0% from the October 31st total of 144,700 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 16,800 shares, the short-interest ratio is currently 6.8 days.

Northern Technologies International Price Performance

Shares of NASDAQ NTIC traded up $0.38 during midday trading on Friday, reaching $13.92. The company’s stock had a trading volume of 6,181 shares, compared to its average volume of 17,329. The stock has a market capitalization of $131.82 million, a P/E ratio of 25.31 and a beta of 0.60. The firm has a 50 day moving average price of $12.83 and a 200-day moving average price of $14.14. Northern Technologies International has a 12-month low of $10.08 and a 12-month high of $19.63.

Northern Technologies International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, October 30th. Northern Technologies International’s payout ratio is 50.91%.

Hedge Funds Weigh In On Northern Technologies International

A number of hedge funds and other institutional investors have recently made changes to their positions in NTIC. Rhumbline Advisers bought a new stake in Northern Technologies International in the second quarter worth about $114,000. Panagora Asset Management Inc. bought a new stake in shares of Northern Technologies International in the 2nd quarter worth approximately $175,000. Meros Investment Management LP lifted its stake in Northern Technologies International by 25.2% in the second quarter. Meros Investment Management LP now owns 269,510 shares of the specialty chemicals company’s stock valued at $4,463,000 after purchasing an additional 54,209 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Northern Technologies International by 13.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 30,445 shares of the specialty chemicals company’s stock valued at $504,000 after purchasing an additional 3,721 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in Northern Technologies International in the second quarter worth $251,000. 32.88% of the stock is owned by hedge funds and other institutional investors.

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.