NL Industries (NYSE:NL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

NL Industries, Inc. (NYSE:NL) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.89 and traded as low as $5.70. NL Industries shares last traded at $5.92, with a volume of 57,401 shares.

Analysts Set New Price Targets

Several research firms have recently commented on NL. Wall Street Zen lowered NL Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of NL Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

NL Industries Stock Performance

The business has a 50-day moving average of $6.23 and a 200-day moving average of $6.89. The stock has a market capitalization of $289.02 million, a price-to-earnings ratio of 5.38 and a beta of 0.36.

NL Industries (NYSE:NL) last issued 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 business had revenue of $40.30 million for the quarter. NL Industries had a return on equity of 12.93% and a net margin of 35.06%.

NL Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 5th. This represents a $0.36 dividend on an annualized basis and a yield of 6.1%. NL Industries’s dividend payout ratio is 32.73%.

Institutional Trading of NL Industries

A number of institutional investors and hedge funds have recently bought and sold shares of NL. Strs Ohio purchased a new stake in NL Industries during the first quarter worth about $35,000. Bailard Inc. purchased a new stake in shares of NL Industries during the first quarter worth approximately $141,000. Jane Street Group LLC purchased a new stake in shares of NL Industries during the second quarter worth approximately $158,000. Nuveen LLC purchased a new stake in shares of NL Industries during the first quarter worth approximately $183,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of NL Industries by 15.5% during the first quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock worth $216,000 after buying an additional 3,667 shares during the period. 10.67% of the stock is currently owned by hedge funds and other institutional investors.

About NL Industries

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.