NL Industries (NYSE:NL) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• NL Industries reported quarterly EPS of $0.18, missing analysts’ $0.21 consensus by $0.03, while revenue of $43.61 million exceeded the $40.92 million estimate.
• The stock fell 0.9% to $5.79, with the company reporting a negative net margin of 21.56% and negative return on equity of 8.74%.
• NL Industries paid a quarterly dividend of $0.10, equivalent to an annualized $0.40 and a 6.9% yield; analyst coverage currently carries an average “Hold” rating.

NL Industries (NYSE:NL - Get Free Report) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.03), FiscalAI reports. The company had revenue of $43.61 million for the quarter, compared to the consensus estimate of $40.92 million. NL Industries had a negative net margin of 21.56% and a negative return on equity of 8.74%.

NL Industries Stock Down 0.9%

NL traded down $0.05 during midday trading on Wednesday, hitting $5.79. 42,552 shares of the company traded hands, compared to its average volume of 28,813. The company's 50-day moving average is $5.99 and its 200 day moving average is $6.08. NL Industries has a 52 week low of $5.04 and a 52 week high of $8.60. The firm has a market capitalization of $282.80 million, a PE ratio of -8.39 and a beta of 0.22.

NL Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Thursday, June 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%. NL Industries's payout ratio is -57.97%.

Analyst Ratings Changes

A number of research firms have recently commented on NL. Wall Street Zen raised NL Industries from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised NL Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, NL Industries currently has an average rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NL. Jane Street Group LLC bought a new position in shares of NL Industries during the 2nd quarter valued at $158,000. Bridgeway Capital Management LLC boosted its position in NL Industries by 9.6% in the third quarter. Bridgeway Capital Management LLC now owns 276,064 shares of the basic materials company's stock worth $1,698,000 after purchasing an additional 24,132 shares during the last quarter. Empowered Funds LLC grew its stake in shares of NL Industries by 11.0% during the 4th quarter. Empowered Funds LLC now owns 232,131 shares of the basic materials company's stock valued at $1,270,000 after purchasing an additional 23,029 shares during the period. Millennium Management LLC grew its stake in shares of NL Industries by 179.0% during the 3rd quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company's stock valued at $203,000 after purchasing an additional 21,223 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of NL Industries during the 3rd quarter valued at about $126,000. Institutional investors own 10.67% of the company's stock.

NL Industries Company Profile

NL Industries, Inc is a U.S.-based industrial minerals company whose primary focus is the mining, upgrading and marketing of titanium feedstocks. The company's products include synthetic rutile and chloride slag, which serve as key raw materials for producers of titanium dioxide pigment. These pigments are widely used as whitening and opacifying agents in coatings, plastics, paper and specialty applications.

NL Industries serves a global customer base, supplying feedstocks under long-term agreements and through spot transactions.

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