Granite Investment Partners LLC boosted its stake in Northern Technologies International Co. (NASDAQ:NTIC) by 306.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,957 shares of the specialty chemicals company’s stock after acquiring an additional 27,102 shares during the period. Granite Investment Partners LLC’s holdings in Northern Technologies International were worth $962,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bremer Bank National Association bought a new stake in Northern Technologies International in the first quarter valued at approximately $26,000. Bank of America Corp DE bought a new position in shares of Northern Technologies International during the 4th quarter worth approximately $204,000. Alambic Investment Management L.P. bought a new position in shares of Northern Technologies International during the 1st quarter worth approximately $266,000. BlackRock Inc. boosted its holdings in shares of Northern Technologies International by 39.1% during the 1st quarter. BlackRock Inc. now owns 16,534 shares of the specialty chemicals company’s stock worth $442,000 after buying an additional 4,650 shares in the last quarter. Finally, Quantum Capital Management boosted its holdings in shares of Northern Technologies International by 10.5% during the 4th quarter. Quantum Capital Management now owns 49,737 shares of the specialty chemicals company’s stock worth $1,472,000 after buying an additional 4,722 shares in the last quarter. Institutional investors and hedge funds own 31.58% of the company’s stock.
Northern Technologies International stock opened at $23.50 on Thursday. The company has a market cap of $107.17 million, a price-to-earnings ratio of 16.43 and a beta of 1.04. Northern Technologies International Co. has a 52-week low of $23.25 and a 52-week high of $41.90.
Northern Technologies International shares are going to split before the market opens on Monday, July 1st. The 2-1 split was announced on Monday, June 3rd. The newly minted shares will be distributed to shareholders after the closing bell on Friday, June 28th.
Northern Technologies International (NASDAQ:NTIC) last posted its quarterly earnings results on Friday, April 5th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $13.32 million for the quarter. Northern Technologies International had a return on equity of 12.70% and a net margin of 13.04%. On average, sell-side analysts anticipate that Northern Technologies International Co. will post 1.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Wednesday, May 8th. Northern Technologies International’s payout ratio is 33.57%.
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About Northern Technologies International
Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services to automotive, electronics, electrical, mechanical, military, retail consumer, and oil and gas markets. 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.
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