NL Industries (NYSE:NL) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of NL Industries, Inc. (NYSE:NL) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.02 and traded as low as $5.90. NL Industries shares last traded at $6.0570, with a volume of 49,989 shares.

Analyst Ratings Changes

NL has been the subject of a number of recent analyst reports. Weiss Ratings upgraded NL Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Wall Street Zen upgraded NL Industries from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

NL Industries Stock Up 1.5%

The stock has a market capitalization of $295.95 million, a PE ratio of -8.78 and a beta of 0.19. The stock’s 50 day moving average price is $6.23 and its 200-day moving average price is $6.02.

NL Industries (NYSE:NL) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The company had revenue of $40.57 million for the quarter, compared to analysts’ expectations of $40.57 million. NL Industries had a negative net margin of 21.56% and a negative return on equity of 8.74%.

NL Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, June 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Thursday, June 4th. NL Industries’s dividend payout ratio is currently -57.97%.

Hedge Funds Weigh In On NL Industries

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of NL Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 209,872 shares of the basic materials company’s stock valued at $1,148,000 after acquiring an additional 7,222 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in NL Industries by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 3,667 shares during the period. Millennium Management LLC lifted its stake in NL Industries by 179.0% in the third quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 21,223 shares during the period. Rhumbline Advisers lifted 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 worth $145,000 after acquiring an additional 9,984 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in NL Industries by 27.3% in the fourth quarter. Squarepoint Ops LLC now owns 25,980 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 5,567 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.