NL Industries (NYSE:NL) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• NL Industries shares crossed above their 200-day moving average, trading as high as $7.09 and last changing hands at $6.99 versus a 200-day average of $6.18.
• Analysts maintain a cautious stance: Weiss Ratings reiterated a “Hold (C-)” rating, while the quarterly results showed EPS of $0.18, below the $0.21 consensus estimate, despite revenue matching forecasts at $43.61 million.
• The company declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 5.7% yield; institutional investors own approximately 10.67% of the stock.

NL Industries, Inc. (NYSE:NL - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.18 and traded as high as $7.09. NL Industries shares last traded at $6.99, with a volume of 22,701 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of NL Industries in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

NL Industries Price Performance

The stock has a 50 day moving average price of $6.32 and a 200-day moving average price of $6.18. The stock has a market capitalization of $341.81 million, a price-to-earnings ratio of -13.44 and a beta of 0.22.

NL Industries (NYSE:NL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $43.61 million during the quarter, compared to analyst estimates of $43.61 million. NL Industries had a negative net margin of 15.75% and a negative return on equity of 6.67%.

NL Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.7%. NL Industries's dividend payout ratio is presently -76.92%.

Hedge Funds Weigh In On NL Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in NL Industries by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,089,167 shares of the basic materials company's stock worth $12,180,000 after acquiring an additional 15,950 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NL Industries by 16.0% in the 1st quarter. Renaissance Technologies LLC now owns 162,470 shares of the basic materials company's stock valued at $947,000 after acquiring an additional 22,456 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NL Industries by 48.6% in the 1st quarter. Bank of New York Mellon Corp now owns 64,752 shares of the basic materials company's stock valued at $378,000 after acquiring an additional 21,184 shares during the last quarter. Byrne Asset Management LLC purchased a new position in NL Industries in the 2nd quarter worth approximately $143,000. Finally, Money Concepts Capital Corp purchased a new position in NL Industries in the 1st quarter worth approximately $92,000. 10.67% of the stock is owned by hedge funds and other institutional investors.

NL Industries Company Profile

NL Industries, Inc NYSE: NL is a holding company with interests in chemical manufacturing and component products. The company's principal businesses are conducted through its investments in Kronos Worldwide, Inc and CompX International Inc

Through Kronos Worldwide, NL Industries is involved in the production and sale of titanium dioxide pigments. These pigments are used primarily to provide whiteness, brightness, and opacity in coatings, plastics, and paper. Kronos serves customers in North America, Europe, and other international markets through its manufacturing and distribution operations.

NL Industries' component products business is operated through CompX International, which manufactures security products and marine components.

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