Traders Purchase Large Volume of Put Options on NL Industries (NL)
NL Industries, Inc. (NYSE:NL) saw unusually large options trading on Wednesday. Investors bought 727 put options on the company. This is an increase of approximately 1,325% compared to the average daily volume of 51 put options.
Shares of NL Industries (NYSE:NL) opened at $13.45 on Friday. NL Industries has a 52 week low of $5.25 and a 52 week high of $16.05. The company has a market capitalization of $613.81, a price-to-earnings ratio of 7.97 and a beta of 2.86.
A number of hedge funds have recently made changes to their positions in NL. Dimensional Fund Advisors LP lifted its stake in NL Industries by 64.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,425,054 shares of the basic materials company’s stock worth $17,097,000 after acquiring an additional 953,157 shares during the period. Hillsdale Investment Management Inc. bought a new position in NL Industries in the second quarter worth $814,000. Renaissance Technologies LLC raised its holdings in NL Industries by 30.0% in the first quarter. Renaissance Technologies LLC now owns 220,404 shares of the basic materials company’s stock worth $1,422,000 after purchasing an additional 50,804 shares in the last quarter. Acadian Asset Management LLC bought a new position in NL Industries in the second quarter worth $296,000. Finally, Strs Ohio raised its holdings in NL Industries by 547.3% in the second quarter. Strs Ohio now owns 47,900 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 40,500 shares in the last quarter. 9.34% of the stock is owned by institutional investors.
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About NL Industries
NL Industries, Inc is a holding company. The Company operates in the component products industry through its subsidiary, CompX International Inc (CompX). The Company operates in the chemicals industry through its non-controlling interest in Kronos Worldwide, Inc (Kronos). The Company, through Compx, manufactures engineered components that are sold to a range of industries, including recreational transportation (including boats), postal, office and institutional furniture, cabinetry, tool storage, healthcare, gas stations and vending equipment.
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