Northern Technologies International Corporation (NTIC) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Northern Technologies International Corporation (NASDAQ:NTIC) from a buy rating to a hold rating in a research report released on Monday.

Shares of Northern Technologies International Corporation (NASDAQ:NTIC) opened at 16.90 on Monday. The stock has a market cap of $76.51 million, a PE ratio of 129.01 and a beta of 1.33. The firm has a 50-day moving average price of $17.43 and a 200-day moving average price of $16.87. Northern Technologies International Corporation has a 52 week low of $12.50 and a 52 week high of $19.30.

Northern Technologies International Corporation (NASDAQ:NTIC) last issued its quarterly earnings data on Thursday, July 13th. The specialty chemicals company reported $0.30 earnings per share for the quarter. The firm had revenue of $10.22 million during the quarter. Northern Technologies International Corporation had a return on equity of 5.24% and a net margin of 1.56%. On average, analysts forecast that Northern Technologies International Corporation will post $1.02 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of NTIC. US Bancorp DE grew its position in shares of Northern Technologies International Corporation by 41.0% in the 1st quarter. US Bancorp DE now owns 7,085 shares of the specialty chemicals company’s stock worth $129,000 after acquiring an additional 2,060 shares in the last quarter. Accredited Investors Inc. acquired a new position in shares of Northern Technologies International Corporation in the 1st quarter worth approximately $347,000. Cove Street Capital LLC grew its position in shares of Northern Technologies International Corporation by 37.3% in the 1st quarter. Cove Street Capital LLC now owns 62,424 shares of the specialty chemicals company’s stock worth $1,139,000 after acquiring an additional 16,945 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Northern Technologies International Corporation by 20.8% in the 1st quarter. Renaissance Technologies LLC now owns 20,300 shares of the specialty chemicals company’s stock worth $370,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA grew its position in shares of Northern Technologies International Corporation by 1.7% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 287,956 shares of the specialty chemicals company’s stock worth $5,254,000 after acquiring an additional 4,750 shares in the last quarter. Institutional investors own 25.82% of the company’s stock.

About Northern Technologies International Corporation

Northern Technologies International Corporation develops and markets environmentally beneficial products and services. The Company’s primary business is corrosion prevention marketed mainly under ZERUST and EXCOR brands (collectively ZERUST). The Company’s segments include ZERUST and Natur-Tec. The Company is engaged in selling its ZERUST products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets.

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