NL Industries (NYSE:NL) Stock Price Passes Below 200 Day Moving Average – Here’s Why
by Sarita Garza · The Markets DailyNL Industries, Inc. (NYSE:NL – Get Free Report)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.02 and traded as low as $5.90. NL Industries shares last traded at $6.0570, with a volume of 49,989 shares.
Wall Street Analyst Weigh In
NL has been the topic of a number of research analyst reports. Weiss Ratings raised NL Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of NL Industries from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
View Our Latest Analysis on NL Industries
NL Industries Stock Performance
The firm has a market cap of $295.90 million, a P/E ratio of -8.78 and a beta of 0.19. The business’s 50-day simple moving average is $6.24 and its 200 day simple moving average is $6.02.
NL Industries (NYSE:NL – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14). NL Industries had a negative net margin of 21.56% and a negative return on equity of 8.74%. The firm had revenue of $40.57 million for the quarter, compared to the consensus estimate of $40.57 million.
NL Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, June 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Thursday, June 4th. NL Industries’s dividend payout ratio (DPR) is presently -57.97%.
Institutional Investors Weigh In On NL Industries
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aristides Capital LLC lifted its stake in shares of NL Industries by 0.5% in the 4th 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. Wells Fargo & Company MN grew its position in NL Industries by 34.3% during the fourth quarter. Wells Fargo & Company MN now owns 9,445 shares of the basic materials company’s stock valued at $52,000 after buying an additional 2,413 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in NL Industries by 80.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 5,985 shares of the basic materials company’s stock valued at $33,000 after buying an additional 2,667 shares during the last quarter. Goldman Sachs Group Inc. raised its position in NL Industries by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 3,667 shares during the period. Finally, Strs Ohio bought a new position in NL Industries in the first quarter worth approximately $35,000. 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.