Northern Technologies International Co. (NASDAQ:NTIC) Short Interest Down 21.0% in November

Northern Technologies International Co. (NASDAQ:NTIC - Get Free Report) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 114,300 shares, a decline of 21.0% from the October 31st total of 144,700 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 16,800 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC grew its position in Northern Technologies International by 25.9% during the third quarter. Needham Investment Management LLC now owns 522,500 shares of the specialty chemicals company's stock worth $6,422,000 after buying an additional 107,500 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northern Technologies International by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 348,700 shares of the specialty chemicals company's stock worth $5,774,000 after purchasing an additional 11,746 shares during the period. Meros Investment Management LP increased its position in shares of 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 worth $4,463,000 after purchasing an additional 54,209 shares during the period. Renaissance Technologies LLC grew its stake in Northern Technologies International by 32.3% during the second quarter. Renaissance Technologies LLC now owns 135,077 shares of the specialty chemicals company's stock worth $2,237,000 after buying an additional 33,000 shares in the last quarter. Finally, State Street Corp increased its holdings in Northern Technologies International by 12.7% in the 3rd quarter. State Street Corp now owns 84,778 shares of the specialty chemicals company's stock valued at $1,042,000 after buying an additional 9,554 shares during the period. 32.88% of the stock is owned by institutional investors.

Northern Technologies International Price Performance

NTIC stock traded up $0.38 during midday trading on Friday, reaching $13.92. 6,180 shares of the company were exchanged, compared to its average volume of 31,709. The firm has a market capitalization of $131.82 million, a price-to-earnings ratio of 24.62 and a beta of 0.60. The business has a 50-day moving average price of $12.80 and a two-hundred day moving average price of $14.19. Northern Technologies International has a one year low of $10.08 and a one year high of $19.63.

Northern Technologies International Announces Dividend

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

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.