NL Industries (NYSE:NL) Rating Lowered to Sell at Wall Street Zen

Key Points

• NL Industries has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook from analysts.
• For the latest quarter, NL Industries reported earnings of $0.01 per share, significantly missing analysts' expectations of $0.19 by $0.18.
• Institutional investors hold 10.67% of NL Industries' stock, with notable new stakes acquired by firms such as Raymond James Financial and Wealthstar Advisors.

Wall Street Zen lowered shares of NL Industries (NYSE:NL - Free Report) from a hold rating to a sell rating in a report released on Saturday.

NL Industries Stock Performance

NL stock traded down $0.04 during trading on Friday, reaching $6.52. 13,264 shares of the company traded hands, compared to its average volume of 35,719. NL Industries has a 12 month low of $5.29 and a 12 month high of $9.42. The business has a 50 day simple moving average of $6.51 and a 200 day simple moving average of $7.24. The company has a market capitalization of $318.57 million, a price-to-earnings ratio of 5.93 and a beta of 0.25.

NL Industries (NYSE:NL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.18). The company had revenue of $40.30 million during the quarter. NL Industries had a net margin of 35.06% and a return on equity of 12.93%.

NL Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, September 5th. NL Industries's dividend payout ratio (DPR) is currently 32.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in NL Industries during the first quarter worth $35,000. Lazard Asset Management LLC boosted its position in shares of NL Industries by 42.9% in the fourth quarter. Lazard Asset Management LLC now owns 9,556 shares of the basic materials company's stock worth $74,000 after buying an additional 2,871 shares during the period. Barclays PLC boosted its position in shares of NL Industries by 13.4% in the fourth quarter. Barclays PLC now owns 13,538 shares of the basic materials company's stock worth $106,000 after buying an additional 1,604 shares during the period. Bailard Inc. acquired a new position in shares of NL Industries in the first quarter worth about $141,000. Finally, Nuveen LLC acquired a new position in shares of NL Industries in the first quarter worth about $183,000. 10.67% of the stock is currently owned by hedge funds and other institutional investors.

NL Industries Company Profile

NL Industries, Inc, through its subsidiary, CompX International Inc, operates in the component products industry in Europe, North America, the Asia Pacific, and internationally. The company manufactures and sells mechanical and electronic cabinet locks and other locking mechanisms, including disc tumbler locks; pin tumbler locking mechanisms under KeSet, System 64, TuBar, and Turbine brands; and electronic locks under CompX eLock and StealthLock brands for use in various applications, such as mailboxes, ignition systems, file cabinets, desk drawers, tool storage cabinets, high security medical cabinetry, integrated inventory and access control secured narcotics boxes, electronic circuit panels, storage compartments, gas station security, vending and cash containment machines.