NL Industries (NYSE:NL) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

NL Industries, Inc. (NYSE:NL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.99 and traded as low as $5.86. NL Industries shares last traded at $5.9440, with a volume of 155,239 shares trading hands.

Wall Street Analysts Forecast Growth

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

NL Industries Price Performance

The firm has a market capitalization of $290.42 million, a PE ratio of 29.72 and a beta of 0.27. The company has a 50-day moving average price of $5.79 and a 200-day moving average price of $5.99.

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

Institutional Trading of NL Industries

Hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new position in NL Industries in the 1st quarter valued at $35,000. Squarepoint Ops LLC purchased a new stake in shares of NL Industries in the third quarter valued at $126,000. Rhumbline Advisers increased its stake in NL Industries by 73.6% in 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 during the last quarter. Jane Street Group LLC purchased a new position in NL Industries during the second quarter worth about $158,000. Finally, Goldman Sachs Group Inc. boosted its stake 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 worth $216,000 after buying an additional 3,667 shares during the last quarter. Institutional investors and hedge funds own 10.67% of the company’s stock.

About NL Industries

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.