NL Industries (NYSE:NL) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

NL Industries, Inc. (NYSE:NL - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.49 and traded as low as $6.35. NL Industries shares last traded at $6.44, with a volume of 66,578 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of NL Industries from a "hold" rating to a "buy" rating in a report on Saturday, May 17th.

NL Industries Stock Performance

The firm has a market cap of $326.30 million, a P/E ratio of 5.34 and a beta of 0.27. The firm's fifty day moving average price is $7.34 and its 200 day moving average price is $7.49.

NL Industries (NYSE:NL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $40.30 million for the quarter. NL Industries had a net margin of 41.23% and a return on equity of 14.97%.

NL Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 9th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Monday, June 9th. NL Industries's dividend payout ratio (DPR) is presently 28.80%.

Hedge Funds Weigh In On NL Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NL. Raymond James Financial Inc. acquired a new stake in NL Industries during the fourth quarter worth about $1,622,000. Segall Bryant & Hamill LLC purchased a new position in NL Industries during the first quarter worth about $644,000. Wealthstar Advisors LLC boosted its stake in shares of NL Industries by 93.2% in the first quarter. Wealthstar Advisors LLC now owns 166,621 shares of the basic materials company's stock valued at $1,316,000 after purchasing an additional 80,381 shares during the period. Nuveen LLC purchased a new position in shares of NL Industries in the first quarter valued at approximately $183,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NL Industries by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,006,917 shares of the basic materials company's stock valued at $15,594,000 after purchasing an additional 21,876 shares during the period. 10.67% of the stock is 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.