NL Industries (NYSE:NL) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

NL Industries, Inc. (NYSE:NL)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.03 and traded as low as $5.62. NL Industries shares last traded at $6.5750, with a volume of 385,973 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of NL Industries in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

NL Industries Stock Performance

The company’s 50 day moving average price is $5.61 and its 200-day moving average price is $6.03. The company has a market cap of $321.25 million, a price-to-earnings ratio of 32.88 and a beta of 0.28.

NL Industries (NYSE:NL) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.34). The business had revenue of $40.00 million for the quarter. NL Industries had a return on equity of 2.36% and a net margin of 6.10%.

NL Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 21st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.36 annualized dividend and a dividend yield of 5.5%. NL Industries’s dividend payout ratio (DPR) is currently 180.00%.

Institutional Investors Weigh In On NL Industries

Hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in NL Industries in the 1st quarter worth about $35,000. Squarepoint Ops LLC acquired a new position in NL Industries during the third quarter valued at $126,000. Rhumbline Advisers grew its position in NL Industries by 73.6% during the third quarter. Rhumbline Advisers now owns 23,547 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 9,984 shares in the last quarter. Jane Street Group LLC purchased a new stake in NL Industries in the 2nd quarter worth approximately $158,000. Finally, Ritholtz Wealth Management boosted its stake in shares of NL Industries by 12.5% during the 3rd quarter. Ritholtz Wealth Management now owns 29,064 shares of the basic materials company’s stock valued at $179,000 after buying an additional 3,239 shares during the period. 10.67% of the stock is owned by hedge funds and other institutional investors.

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.