NL Industries (NYSE:NL) Shares Cross Below 200-Day Moving Average – Here’s Why

NL Industries, Inc. (NYSE:NL) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.21 and traded as low as $5.61. NL Industries shares last traded at $5.6690, with a volume of 17,275 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of NL Industries in a research note on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

NL Industries Trading Down 2.1%

The company has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $6.21. The stock has a market capitalization of $276.99 million, a PE ratio of 28.35 and a beta of 0.28.

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

NL Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 21st will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 21st. This represents a $0.36 dividend on an annualized basis and a yield of 6.4%. NL Industries’s dividend payout ratio is presently 180.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in NL Industries by 15.5% during the first 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 in the last quarter. Nuveen LLC acquired a new position in NL Industries during the 1st quarter worth approximately $183,000. Bridgeway Capital Management LLC increased its position in NL Industries by 9.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 276,064 shares of the basic materials company’s stock worth $1,698,000 after purchasing an additional 24,132 shares during the period. Rhumbline Advisers raised its stake in shares of NL Industries by 73.6% during the 3rd quarter. Rhumbline Advisers now owns 23,547 shares of the basic materials company’s stock worth $145,000 after buying an additional 9,984 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of NL Industries in the 2nd quarter valued at approximately $158,000. 10.67% of the stock is currently owned by institutional investors and hedge funds.

About NL Industries

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.