Insider Buying: Northern Technologies International Co. (NASDAQ:NTIC) Director Buys 1,275 Shares of Stock

Northern Technologies International Co. (NASDAQ:NTIC) Director Sarah E. Kemp acquired 1,275 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average cost of $15.70 per share, for a total transaction of $20,017.50. Following the completion of the purchase, the director now directly owns 5,760 shares in the company, valued at approximately $90,432. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Northern Technologies International Trading Up 6.9 %

NASDAQ:NTIC traded up $1.12 during trading hours on Wednesday, hitting $17.35. The stock had a trading volume of 91,505 shares, compared to its average volume of 19,327. The business has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $12.67. Northern Technologies International Co. has a 1-year low of $10.08 and a 1-year high of $17.55. The company has a market cap of $163.61 million, a PE ratio of 31.21 and a beta of 0.73.

Northern Technologies International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, April 30th. Northern Technologies International’s payout ratio is 53.85%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Northern Technologies International

Hedge funds have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co bought a new stake in Northern Technologies International in the third quarter valued at $44,000. Victory Capital Management Inc. bought a new stake in Northern Technologies International in the fourth quarter valued at $83,000. Connors Investor Services Inc. bought a new stake in Northern Technologies International in the third quarter valued at $139,000. Penn Mutual Asset Management LLC bought a new stake in Northern Technologies International in the third quarter valued at $227,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Northern Technologies International by 30.6% during the third quarter. Acadian Asset Management LLC now owns 20,116 shares of the specialty chemicals company’s stock valued at $267,000 after purchasing an additional 4,712 shares during the period. 32.88% of the stock is currently owned by institutional investors.

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.