Lazard Asset Management LLC Buys 2,871 Shares of NL Industries, Inc. (NYSE:NL)

Lazard Asset Management LLC increased its stake in shares of NL Industries, Inc. (NYSE:NL) by 42.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,556 shares of the basic materials company’s stock after acquiring an additional 2,871 shares during the period. Lazard Asset Management LLC’s holdings in NL Industries were worth $74,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NL. Raymond James Financial Inc. bought a new stake in NL Industries during the 4th quarter valued at approximately $1,622,000. JPMorgan Chase & Co. boosted its position in shares of NL Industries by 112.1% in the third quarter. JPMorgan Chase & Co. now owns 22,357 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 11,815 shares during the period. Rhumbline Advisers boosted its position in shares of NL Industries by 17.6% in the fourth quarter. Rhumbline Advisers now owns 14,816 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 2,217 shares during the period. Empowered Funds LLC grew its stake in shares of NL Industries by 4.5% in the fourth quarter. Empowered Funds LLC now owns 162,500 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 6,950 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in NL Industries by 7.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,322 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 3,753 shares during the period. 10.67% of the stock is owned by institutional investors.

NL Industries Trading Down 2.9%

NL opened at $7.75 on Monday. The stock’s 50 day simple moving average is $7.94 and its 200-day simple moving average is $7.75. The stock has a market cap of $378.33 million, a PE ratio of 6.45 and a beta of 0.36. NL Industries, Inc. has a 1 year low of $5.20 and a 1 year high of $9.42.

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

NL Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Monday, June 9th will be paid a $0.09 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.36 dividend on an annualized basis and a yield of 4.65%. NL Industries’s payout ratio is currently 28.80%.

Insider Activity at NL Industries

In related news, Director Kevin B. Kramer purchased 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $6.59 per share, with a total value of $42,835.00. Following the purchase, the director now directly owns 9,350 shares in the company, valued at $61,616.50. This represents a 228.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of NL Industries from a “hold” rating to a “buy” rating in a report on Saturday, May 17th.

NL Industries Company Profile

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.