NL Industries (NYSE:NL) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

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.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of NL Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

NL Industries Stock Down 2.2%

The stock has a market cap of $290.42 million, a PE ratio of 29.72 and a beta of 0.27. The company’s fifty day moving average is $5.79 and its 200 day moving average is $5.99.

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

Institutional Investors Weigh In On NL Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC grew its stake in shares of NL Industries by 9.6% in the third quarter. Bridgeway Capital Management LLC now owns 276,064 shares of the basic materials company’s stock valued at $1,698,000 after buying an additional 24,132 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NL Industries by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 202,513 shares of the basic materials company’s stock worth $1,296,000 after acquiring an additional 9,952 shares during the period. Empowered Funds LLC boosted its holdings in NL Industries by 3.7% in the 1st quarter. Empowered Funds LLC now owns 168,532 shares of the basic materials company’s stock worth $1,331,000 after acquiring an additional 6,032 shares during the period. Segall Bryant & Hamill LLC grew its position in NL Industries by 70.0% in the third quarter. Segall Bryant & Hamill LLC now owns 93,864 shares of the basic materials company’s stock valued at $577,000 after acquiring an additional 38,640 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of NL Industries by 179.0% during the third quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 21,223 shares during the period. Hedge funds and other institutional investors own 10.67% of the company’s stock.

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.