Sheets Smith Wealth Management Maintains Stake in Northern Technologies International Corporation (NTIC)

Sheets Smith Wealth Management continued to hold its position in shares of Northern Technologies International Corporation (NASDAQ:NTIC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,522 shares of the specialty chemicals company’s stock at the end of the second quarter. Sheets Smith Wealth Management owned about 0.34% of Northern Technologies International Corporation worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Northern Technologies International Corporation by 4.3% in the fourth quarter. Renaissance Technologies LLC now owns 16,800 shares of the specialty chemicals company’s stock worth $231,000 after buying an additional 700 shares during the last quarter. Creative Planning acquired a new position in Northern Technologies International Corporation during the first quarter worth approximately $328,000. US Bancorp DE boosted its position in Northern Technologies International Corporation by 41.0% in the first quarter. US Bancorp DE now owns 7,085 shares of the specialty chemicals company’s stock worth $129,000 after buying an additional 2,060 shares in the last quarter. Accredited Investors Inc. purchased a new stake in Northern Technologies International Corporation during the first quarter worth about $347,000. Finally, Cove Street Capital LLC increased its stake in Northern Technologies International Corporation by 37.3% in the first quarter. Cove Street Capital LLC now owns 62,424 shares of the specialty chemicals company’s stock worth $1,139,000 after buying an additional 16,945 shares during the last quarter. 25.62% of the stock is currently owned by institutional investors and hedge funds.

Northern Technologies International Corporation (NASDAQ NTIC) traded up 3.14% during trading on Friday, hitting $18.05. The stock had a trading volume of 677 shares. The company has a market cap of $81.71 million, a PE ratio of 137.79 and a beta of 1.31. The company’s 50 day moving average is $17.06 and its 200-day moving average is $16.60. Northern Technologies International Corporation has a 12 month low of $12.50 and a 12 month high of $19.30.

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

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Separately, ValuEngine downgraded Northern Technologies International Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd.

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.