NL Industries (NYSE:NL) Upgraded at StockNews.com

NL Industries (NYSE:NL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

NL Industries Price Performance

NYSE NL opened at $7.86 on Friday. The stock has a market capitalization of $383.95 million, a PE ratio of 6.55 and a beta of 0.36. The business has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $7.75. NL Industries has a 1-year low of $5.20 and a 1-year high of $9.42.

NL Industries (NYSE:NL) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The firm had revenue of $40.30 million for the quarter. NL Industries had a net margin of 38.69% and a return on equity of 14.74%.

Insider Activity

In related news, Director Kevin B. Kramer bought 6,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $6.59 per share, with a total value of $42,835.00. Following the transaction, the director now owns 9,350 shares in the company, valued at $61,616.50. This trade represents a 228.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On NL Industries

Several large investors have recently modified their holdings of NL. Empowered Funds LLC grew its position in NL Industries by 3.7% in the 1st quarter. Empowered Funds LLC now owns 168,532 shares of the basic materials company’s stock valued at $1,331,000 after acquiring an additional 6,032 shares during the last quarter. Goldman Sachs Group Inc. grew its position in NL Industries by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 3,667 shares during the last quarter. Nuveen LLC bought a new position in NL Industries in the 1st quarter valued at $183,000. Bailard Inc. bought a new position in NL Industries in the 1st quarter valued at $141,000. Finally, Segall Bryant & Hamill LLC bought a new position in NL Industries in the 1st quarter valued at $644,000. Institutional investors own 10.67% of the company’s stock.

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.