NL Industries (NYSE:NL) Releases Earnings Results, Misses Estimates By $0.03 EPS

NL Industries (NYSE:NL) released its earnings results 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 firm had revenue of $43.61 million during the quarter, compared to the consensus estimate of $40.92 million. NL Industries had a negative return on equity of 8.74% and a negative net margin of 21.56%.

NL Industries Price Performance

NL traded up $0.51 during trading on Thursday, hitting $6.26. 82,030 shares of the stock traded hands, compared to its average volume of 57,022. The firm has a market capitalization of $305.81 million, a P/E ratio of -9.07 and a beta of 0.22. The firm has a 50-day moving average of $5.99 and a 200 day moving average of $6.08. NL Industries has a 12-month low of $5.04 and a 12-month high of $8.60.

NL Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Thursday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Thursday, September 3rd. NL Industries’s dividend payout ratio is currently -57.97%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of NL Industries from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of NL Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, NL Industries presently has an average rating of “Hold”.

Hedge Funds Weigh In On NL Industries

A number of hedge funds have recently modified their holdings of NL. Aristides Capital LLC boosted its holdings in shares of NL Industries by 0.5% during the fourth quarter. Aristides Capital LLC now owns 417,014 shares of the basic materials company’s stock worth $2,281,000 after purchasing an additional 2,075 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of NL Industries by 8.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 299,093 shares of the basic materials company’s stock worth $1,636,000 after purchasing an additional 23,029 shares during the last quarter. Empowered Funds LLC increased its holdings in 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. Geode Capital Management LLC increased its holdings in NL Industries by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 209,872 shares of the basic materials company’s stock valued at $1,148,000 after purchasing an additional 7,222 shares during the period. Finally, Millennium Management LLC raised its position in 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 last quarter. Hedge funds and other 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.