Rhumbline Advisers Cuts Stock Position in NL Industries, Inc. (NYSE:NL)

Rhumbline Advisers lowered its stake in NL Industries, Inc. (NYSE:NL) by 14.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,710 shares of the basic materials company’s stock after selling 2,106 shares during the period. Rhumbline Advisers’ holdings in NL Industries were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC grew its stake in shares of NL Industries by 42.9% in the 4th quarter. Lazard Asset Management LLC now owns 9,556 shares of the basic materials company’s stock worth $74,000 after buying an additional 2,871 shares during the last quarter. Barclays PLC lifted its position in NL Industries by 13.4% in the 4th quarter. Barclays PLC now owns 13,538 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 1,604 shares in the last quarter. WINTON GROUP Ltd bought a new position in NL Industries in the 4th quarter valued at approximately $159,000. JPMorgan Chase & Co. lifted its position in NL Industries by 73.3% in the 4th quarter. JPMorgan Chase & Co. now owns 38,750 shares of the basic materials company’s stock valued at $301,000 after acquiring an additional 16,393 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in NL Industries by 77.7% in the 4th quarter. Bank of New York Mellon Corp now owns 44,160 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 19,316 shares in the last quarter. Hedge funds and other institutional investors own 10.67% of the company’s stock.

Analysts Set New Price Targets

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

NL Industries Trading Up 4.1%

NL stock opened at $6.28 on Friday. The stock has a market capitalization of $306.53 million, a PE ratio of 5.02 and a beta of 0.31. NL Industries, Inc. has a 12-month low of $5.20 and a 12-month high of $9.42. The stock’s 50 day simple moving average is $7.55 and its 200 day simple moving average is $7.57.

NL Industries (NYSE:NL) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). The business had revenue of $40.30 million during the quarter. NL Industries had a net margin of 41.23% and a return on equity of 14.97%.

NL Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, June 9th. This represents a $0.36 annualized dividend and a dividend yield of 5.74%. NL Industries’s payout ratio is 28.80%.

NL Industries 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.