NL Industries (NYSE:NL) Share Price Passes Below 200-Day Moving Average Following Weak Earnings

NL Industries, Inc. (NYSE:NL)’s share price passed below its 200-day moving average during trading on Wednesday following a dissappointing earnings announcement. The stock has a 200-day moving average of $7.29 and traded as low as $5.70. NL Industries shares last traded at $5.86, with a volume of 37,623 shares.

The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.18). NL Industries had a return on equity of 14.97% and a net margin of 41.23%.

NL Industries Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be paid a $0.21 dividend. NL Industries’s dividend payout ratio (DPR) is currently 28.80%.

Analyst Ratings Changes

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

Institutional Trading of NL Industries

Large investors have recently bought and sold shares of the business. Barclays PLC boosted its position in shares of NL Industries by 13.4% during the 4th quarter. Barclays PLC now owns 13,538 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 1,604 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of NL Industries by 42.9% during the 4th quarter. Lazard Asset Management LLC now owns 9,556 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 2,871 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of NL Industries by 15.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 3,667 shares during the last quarter. Geode Capital Management LLC grew its stake in NL Industries by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 189,522 shares of the basic materials company’s stock valued at $1,473,000 after buying an additional 3,924 shares in the last quarter. Finally, Strs Ohio bought a new position in NL Industries in the 1st quarter valued at $35,000. 10.67% of the stock is currently owned by institutional investors and hedge funds.

NL Industries Trading Down 1.8%

The company has a market capitalization of $286.02 million, a P/E ratio of 4.68 and a beta of 0.25. The business’s fifty day moving average price is $6.58 and its 200-day moving average price is $7.29.

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.